FX.co ★ Ibovespa Rises on Lower Oil Prices

The Ibovespa rose 0.7% on Monday to close at 186,596, rebounding after ending the previous week in negative territory amid weaker international oil prices. Crude declined on expectations of diplomatic progress between the US and Iran. Iranian President Masoud Pezeshkian is expected to attend the United Nations General Assembly in New York this week, and US President Donald Trump signaled he would be open to meeting him.

Bond yields eased as the pause in the oil rally tempered concerns over energy-driven inflation, supporting credit-sensitive stocks. Financials advanced, with Itaú gaining 1.8% and Bradesco up 0.9%. Utilities also moved higher, led by Axia, which climbed 2.5%.

In the local macroeconomic outlook, the financial market trimmed its 2026 Selic rate forecast from 13.75% to 13.50%, while slightly raising its 2026 inflation projection from 4.90% to 4.92%, according to the Brazilian Central Bank’s Focus Bulletin.