FX.co ★ Ibovespa Gains on Cooling US Inflation

The Ibovespa rose more than 0.5% to trade near 177,000 on Tuesday, rebounding from the previous session’s losses after softer-than-expected US inflation data. US consumer prices fell in June for the first time in six years, while core inflation was little changed, easing pressure on the Federal Reserve to raise interest rates.

Financial stocks advanced, with Itaú, Bradesco, and Itaúsa each gaining nearly 1%. Utilities also moved higher, with Axia and Sabesp adding about 0.5%. Vale climbed more than 2% as iron ore prices jumped on expectations that impending Chinese restrictions on selected Fortescue portside cargoes will tighten supply.

Other notable gainers included Ambev (+1%), Rede D'Or (+1%), and Vivo (+1.5%).