The Ibovespa advanced 0.5% on Tuesday, closing at 186,503 points, driven mainly by Petrobras and major financial stocks. Petrobras climbed 3.1% as oil prices extended their rally, amid supply disruptions in the Middle East after Saudi Arabia shut down a key pipeline bypassing the Strait of Hormuz on Monday.
On the monetary policy front, investors expect the Selic easing cycle to continue at Wednesday’s meeting, with the benchmark rate projected to be cut to 13.75% from 14%, as recent inflation readings have remained within the BCB’s tolerance range.
Among financials, Itaú and Itaúsa both added 0.8%, while BB Seguridade advanced 1%. In the steel sector, Gerdau rose 3.1% and Usiminas 3.3% after Safra initiated a long-short recommendation, suggesting a long position in Gerdau and a short position in Usiminas. Gerdau was also named one of the world’s most trusted companies in the “World’s Most Trustworthy Companies 2026” ranking for the fourth consecutive year.
