FX.co ★ Ibovespa Holds to Record Highs

On Thursday, the Ibovespa index experienced a modest uptick, reaching a new peak of 153,338. This growth was fueled by overall positive corporate earnings and the central bank's decision to maintain the current Selic interest rate, thereby encouraging continued investment. Corporate developments played a crucial role in the day's trading activities. Notably, Axia increased by 1% despite a significant drop in adjusted net profit, as its EBITDA exceeded expectations. Engie Brasil saw a 1.6% increase following a 9.8% rise in third-quarter adjusted profits. Vivara's shares surged by 2%, driven by a remarkable 64.1% increase in net income and a robust performance in EBITDA metrics. Petrobras remained unchanged, while other firms such as Cogna declined by 1.3%, and Fleury and Assaí each advanced by approximately 0.3%. Additionally, Caixa Seguridade rose by 1.3%, as Renner and Magazine Luiza weakened slightly, and Suzano saw minimal change. Minerva experienced a sharp decline of 13.5% due to lower-than-expected net income, and Brava Energia slumped following a massive 75.8% drop in quarterly profits. The Central Bank of Brazil's decision to keep the Selic rate steady at 15% and its commitment to maintaining elevated rates for an extended period provided a supportive environment for local fixed-income securities and contributed to stabilizing the equity market rally.