FX.co ★ Ibovespa Sets Fresh Record High

The Ibovespa index advanced by 1.6%, reaching a new all-time high of 157,749 on Tuesday, marking its fifteenth straight session of upward movement. This rise is attributed to diminishing inflation rates and robust corporate earnings. Brazil's annual inflation rate dropped to 4.68% in October, which was under market expectations but marginally above the Central Bank's upper tolerance band of 4.5%. This decline has heightened expectations for potential interest rate cuts in the first quarter of next year. This outlook partially counteracted the cautiously hawkish stance indicated in the central bank's minutes, which highlighted risks from demand-driven inflation in the services sector. On the corporate front, Itaúsa increased by 2.7% as it reported a 6% year-on-year rise in net income, while BTG Pactual gained 2.5% following a surge in adjusted profit to R$4.54 billion, up from R$3.21 billion the previous year. Additionally, B3 saw a 3.4% increase in anticipation of its forthcoming results. Conversely, Oi saw a substantial decline of 35.7% in the previous session as it was officially delisted following bankruptcy proceedings.