FX.co ★ Brazilian Stocks Close at New Record

On Friday, the Ibovespa index advanced to conclude the session at a new peak of 153,938, as investors evaluated a series of corporate earnings reports alongside growing optimism regarding an improving macroeconomic environment. In October, domestic producer prices saw their first decline in over a year, fostering the belief that consumer disinflation might give the central bank leeway to initiate interest rate cuts in the upcoming year. Banks experienced gains as well, supported by a drop in long-term benchmark rates, with Itau, Bradesco, and Santander Brasil recording increases ranging from 0.5% to 2%. Energy stocks witnessed a significant rise, propelled by a recovery in crude oil prices, with Prio, Vibra, and Ultrapar each registering an increase of over 4%. Concurrently, Petrobras climbed 3.4% following a quarterly profit rise, driven by an uptick in crude oil production that counterbalanced the decrease in benchmark prices during the period, attributed to several production boosts by OPEC+ members.