FX.co ★ Ibovespa Rises as Brazil Mulls Response to US Tariffs

The Ibovespa rose slightly on Friday, trading near 134,000, as investors focused on Brazil's possible reaction to the United States’ impending 50% tariff, which is set to be implemented on August 1. Brazil's Vice President, Geraldo Alckmin, communicated with US Commerce Secretary Howard Lutnick over the previous weekend to advocate for negotiations. Meanwhile, Finance Minister Fernando Haddad expressed concerns that the tariff could affect more than 10,000 Brazilian companies and mentioned that a contingency plan, which includes credit lines, will be proposed to President Lula in the coming week. In the corporate sector, stocks for Petrobras, Banco do Brasil, and GPA saw increases of 0.6%, 0.7%, and 0.9%, respectively. However, Usiminas experienced a 2.1% decline after announcing a 62% decrease in quarterly profits. Multiplan recorded a 0.2% increase as its sales grew by 13% compared to the previous year. Both Vale and CSN experienced a decrease of 1.1%.