FX.co ★ Ibovespa Sees New Record High

The Ibovespa index reversed early losses to close with a 0.3% gain at a new high of 140,110 points, as investors focused on Brazil's specific economic factors, which overshadowed earlier global concerns. Initially, disappointing news regarding U.S. tariffs had negatively impacted exporters. However, a surprising 0.8% increase in March's IBC-Br index, elevating first-quarter economic activity to 1.3%, along with a slight decrease in the 12-month IPCA forecast to 4.91%—although still exceeding the 4.50% target—supported maintaining the Selic rate at 14.75%, enhancing financial sector earnings. In the stock market, companies like JBS, BRF, and Marfrig saw recoveries, each gaining between 3% and 4.4% due to strong first-quarter results and improved prospects for beef exports. Meanwhile, Gol's 12.1% jump following the confirmation of its Chapter 11 exit plan provided a boost to small-cap stocks. Major banks, including Itaú Unibanco and Banco do Brasil, also saw advances, driven by stable net-interest-margin forecasts.