FX.co ★ Ibovespa Surges to Historic High

The Ibovespa jumped 1.8% to close at 186,241 on Monday, extending its rally to fresh record highs, as strong gains in heavyweight banks, commodity producers and growth stocks underpinned a broad-based risk-on mood. Financials led the move higher: Banco Santander Brasil surged 6%, Banco do Brasil rose 2% and Bradesco advanced 1.4%, supported by easing expectations for domestic interest rates and resilient earnings momentum across the sector. Commodity-linked names also lent solid support, with Vale up 1.9% on the back of stable iron ore prices and Petrobras gaining 2% as oil markets steadied following recent volatility driven by developments in the Middle East. Industrials and growth names further bolstered the index, led by WEG, Embraer and Magazine Luiza, the latter soaring more than 7% amid stronger appetite for higher-beta stocks. Elsewhere, B3 climbed 3.4% in step with the broader market rally, while utilities and other defensive names modestly lagged.