FX.co ★ Ibovespa Aims to Set Fresh Record High

The Ibovespa index edged up by 0.2%, surpassing the 138,700 mark on Thursday, and remaining near its all-time highs. The uplift was primarily driven by the strength in financial and consumer discretionary sectors, which compensated for the declines in the energy sector. Leading the financial gains, Banco Santander and Bradesco both rose by 1%. Among consumer stocks, Localiza, BRF, and Rumo Logística each saw increases of over 1.5%. Conversely, Petrobras, the state-owned oil behemoth, saw its shares dip by about 1%, mirroring the downturn in oil prices. Eletrobras, a power generation company, experienced a significant drop of nearly 4% following its report of a first-quarter loss. On the international front, a lower-than-expected US Consumer Price Index and Federal Reserve Chair Jerome Powell's dovish remarks on the employment-inflation relationship heightened expectations for potential interest rate cuts this year. Furthermore, Chinese Premier Li Qiang's commitment to bolster support for exporters, coupled with President Lula's trip to Beijing and President Xi Jinping's promise of a $9 billion credit line for Latin America, reinvigorated market sentiments around commodity demand, boosting mining companies like Vale.