FX.co ★ Ibovespa Sets Fresh High as Vale and Banks Rise

On Wednesday, the Ibovespa index increased by approximately 0.5%, reaching close to 162,000, marking a new record high. This surge was driven by strong performances from leading commodity companies and major financial institutions. Vale's shares increased by 0.7% and Petrobras saw a gain of 0.5%. In the banking sector, Itaú's shares rose by 0.5%, Banco do Brasil by 0.3%, and Bradesco by 0.4%. Additionally, Prio's stock jumped nearly 2%, following a report of a 55% surge in November production, attributed to its expanded ownership in the Peregrino oil field. Gerdau also experienced a rise of approximately 1% after successfully executing the early redemption of $500 million in 4.25% bonds due in 2030.