FX.co ★ Ibovespa Hits Record on Earnings Optimism

On Wednesday, the Ibovespa index rose over 0.5%, reaching a new record high of approximately 148,500, buoyed by positive corporate updates ahead of the Federal Reserve's interest rate announcement in the US. Santander saw a 1.9% increase after it reported an adjusted net profit of R$4.01 billion for the third quarter, a 9.4% rise compared to the same period last year, surpassing expectations. Bradesco's shares climbed 0.8% as investors anticipated results that would confirm its ongoing operational recovery. Genial Investimentos predicts Bradesco's recurring profit at R$6.3 billion, with JPMorgan noting signs of improving profitability. Vale's shares rose by 1% in anticipation of its earning disclosure, with analysts projecting robust revenue growth. Ambev's stock remained steady while Gerdau's increased by 1%; both companies are scheduled to release their earnings reports next week. Market forecasts suggest Gerdau will report higher revenue, although profits may be lower. Axia Energia gained 1% following its agreement to purchase Juno Participações, the main shareholder of Tijoá Energia, for R$247 million, thereby gaining control over the Três Irmãos hydroelectric plant. Meanwhile, Fleury's shares edged up by 0.3% after the company announced its R$34 million acquisition of Laboratório São Lucas.