FX.co ★ Ibovespa Sets New Record

On Thursday, the Ibovespa index surged to unprecedented heights, exceeding 158,500 points, fueled by mounting anticipation of an upcoming Federal Reserve rate reduction next month and a decline in the General Market Price Index. Companies with exposure to the US market and credit sectors saw gains as optimism about potential December rate cuts continued. The IGP-M entered a deflationary period on a 12-month basis for the first time in a year and a half, registering at -0.11%, which bolstered the outlook for future rate cuts in Brazil. In the banking sector, major institutions performed well, with Bradesco experiencing a slight uptick of 0.2% and Itaú showing modest gains. Caixa advanced by 0.4% following its announcement of a 3.8 billion reais recurring net income for the third quarter, marking a 15.4% increase from the previous year. Petrobras saw a 0.2% rise in anticipation of its 2026–2030 business strategy release. The utilities sector showed positive trends, with Axia climbing 0.7% and Sabesp improving by 0.6%. Embraer and Ambev also saw modest gains, up by 0.5% and 0.3%, respectively. Meanwhile, Vale experienced a decline of 0.4%, and Engie fell by 0.5%.