FX.co ★ Ibovespa Rises on Middle Ease Ceasefire Hopes

The Ibovespa inched higher on Wednesday, trading above 188,000 points as global markets rallied after US President Trump signaled openness to ending the war in the Middle East. Trump urged Iran to halt attacks on oil exporters, a request Tehran rejected unless its conditions are met. Crude prices extended their decline, easing energy-driven stagflation concerns. Lower bond yields reduced credit risk perceptions and bolstered financial stocks: Bradesco gained nearly 2%, Itaú added about 1%, Banco do Brasil advanced more than 2%, and B3 jumped close to 8%. Vale also climbed over 1%, supported by stronger iron ore prices. Utilities moved higher as well, with Axia and Sabesp each rising around 1%. In the opposite direction, Petrobras lost more than 2% amid softer oil prices. Separately, Brazil’s Manufacturing PMI edged up to 49.0 in March, signaling the mildest contraction since May 2025.