FX.co ★ Brazilian Stocks Rally on Commodity Strength

The Ibovespa edged above 192,000 points on Wednesday, setting a new record high, as rising oil and iron ore prices boosted Petrobras and Vale. Oil prices climbed amid persistent concerns about a potential military conflict between the US and Iran, pushing Petrobras shares up by nearly 1%. Vale advanced more than 1.5%, supported by higher iron ore quotations. In contrast, WEG fell about 1% after reporting a fourth-quarter net profit of R$1.59 billion, down 6.3% from the same period a year earlier.