FX.co ★ Ibovespa Gains on Lower Oil Quotes

The Ibovespa advanced 1% on Monday, rising back above the 170,000-point level as a pullback in oil prices bolstered risk appetite. Crude fell after US and Iranian officials concluded a first round of talks in Switzerland, easing concerns about energy-driven inflationary pressures.

Major banks led the gains: shares of Itaú and Bradesco climbed nearly 2%, while Banco do Brasil added about 1%. Utilities also traded higher, with Axia and Sabesp up around 1%. In the opposite direction, Petrobras dipped, weighed down by the decline in oil prices.

On the macroeconomic front, the latest BCB Focus survey pointed to higher expectations for both the Selic policy rate and inflation in 2026. At the same time, investors digested a new Datafolha poll indicating that President Lula would be ahead in a hypothetical second-round presidential matchup.