FX.co ★ Ibovespa Gains as Markets Await Selic Decision

The Ibovespa rose nearly 1% on Wednesday, moving above 179,000 points as investors awaited the Brazilian Central Bank’s monetary policy decision and digested another round of corporate earnings. Later today, the Copom is widely expected to cut the Selic rate by 25 basis points from the current 14.25%. Market participants will focus on the accompanying statement for indications of whether an additional cut could follow in September.

Financial stocks led the gains. Itaú advanced 2% after reporting a 7.8% year-on-year increase in managerial recurring net income, in line with market expectations. Bradesco added close to 1% ahead of its earnings release after the market close. Itaúsa climbed 2%, while Banco do Brasil gained 1%.

In contrast, Gerdau fell more than 5% despite delivering stronger-than-expected results for the second quarter of 2026. Axia (+1%), Auren (+1.5%), Brava (-1%), and Engie (+1%) are also scheduled to release their earnings after the bell.