The Ibovespa advanced 1.60% on Wednesday, closing at 185,424 points, as optimism over a possible diplomatic resolution in the Middle East fueled a broad-based rally and pushed down future interest rates. Market sentiment was lifted by reports of a 15-point US peace proposal delivered to Tehran, which put pressure on global oil prices and helped ease domestic inflation concerns.
Utilities and financials led the gains, with Sabesp up 2.4% and Banco Bradesco rising 2.2%. Industrial and consumer bellwethers also performed strongly: WEG gained 2%, while B3 jumped 3.7% amid the more favorable risk environment.
Despite the drop in Brent crude, Petrobras remained in positive territory, edging up 0.2%, and Vale advanced 1.5%. The retail sector, however, posted mixed results, with Lojas Renner slipping 1.3%. Overall, most assets finished the session higher as traders balanced hopes for de-escalation against the persistence of regional tensions.