FX.co ★ Ibovespa Rises on Energy Gains

The Ibovespa climbed more than 0.5% to trade near 168,000 points on Monday, rebounding from a seven-month low, driven primarily by gains in the energy sector. Petrobras advanced over 1% as oil prices rose amid ongoing tensions in the Middle East. Other oil-related names also performed well, with Prio and Brava each up around 1%.

On the political front, a Quaest survey released late Friday showed President Lula and Senator Flávio Bolsonaro in a statistical tie in a potential second-round matchup in October’s presidential election. A BTG/Nexus poll pointed to the same outcome. Earlier polls had indicated Lula held a lead over Flávio Bolsonaro, who is viewed as more fiscally conservative, in a possible runoff.

Blue-chip stocks also lent support to the index: Axia and Sabesp rose more than 1%, while WEG gained nearly 1%. In contrast, financials came under pressure amid concerns that higher energy costs could fuel inflation. Itaú, Banco do Brasil and Itaúsa each slipped about 0.5%, and Bradesco fell 1%. Vale inched lower despite a rise in iron ore prices.