FX.co ★ Ibovespa Gains on Easing Inflation Worries Amid Lower Oil Prices

The Ibovespa climbed more than 1% on Wednesday, moving back above the 185,000 level, supported by advances in heavyweight banking stocks as easing inflation concerns followed a pullback in oil prices. Shares of Itaú and Bradesco each gained over 1.5%, benefiting from the pause in the recent rally in energy commodities, which helped temper fears that inflation could delay interest rate cuts. The utilities sector also moved higher, with Axia rising more than 3%. Elsewhere, Vale and Ambev added roughly 1% each, while Rede D’Or advanced 2.0%. In contrast, Petrobras gave back part of the previous session’s gains amid the drop in oil prices.