FX.co ★ Ibovespa Extends Rally on Fed Cut

The Ibovespa index surged by over 0.8%, surpassing 148,500 on Wednesday, achieving a new record high following the US Federal Reserve's decision to reduce its benchmark interest rate by 25 basis points. Santander's shares increased by 2.5% after announcing an adjusted net profit of R$4.01 billion in the third quarter, marking a 9.4% rise from the previous year and surpassing analysts' expectations. Bradesco's stock rose 0.8% in anticipation of its forthcoming results, which are expected to confirm ongoing operational recovery. Genial Investimentos predicts a recurring profit of R$6.3 billion, while JPMorgan anticipates further improvements in profitability. Vale's stock climbed 1.8% ahead of its earnings release, with analysts predicting stronger revenue figures. Ambev's shares remained stable, while Gerdau saw a 0.6% increase; both are scheduled to report next week, with Gerdau forecasted to report higher revenue but a weaker profit margin. Axia Energia’s stocks increased by 1.5% after it reached an agreement to purchase Juno Participações, the controlling shareholder of Tijoá Energia, for R$247 million, thereby gaining control over the Três Irmãos hydroelectric plant.