FX.co ★ Ibovespa Rebounds as Mid-Month Inflation Matches Forecast

The Ibovespa index rose by over 0.5%, approaching the 159,000 mark on Tuesday as it rebounded from the losses in the previous session. This movement came as investors evaluated the latest inflation figures. Brazil's mid-month inflation climbed to 4.41% in December, aligning closely with the anticipated 4.4% and remaining within the central bank's tolerance range of 1.5% to 4.5%. This eased some concerns regarding immediate inflationary pressures. Leading the market's gains, major banks such as Itaú and Bradesco saw an increase of 0.8% each. The utilities sector also performed well, with Axia appreciating by 1.4%. Other significant gainers included WEG, which rose by 0.5%, Vale with a 0.7% increase, and Ambev advancing by 1.4%. In contrast, Petrobras experienced a decrease of nearly 2%, affected by uncertainties linked to the recent conclusion of a nationwide strike by its employees.