FX.co ★ Brazilian Stocks Extend Record High

On Thursday, Brazil's Ibovespa index climbed by more than 1.6%, crossing the 174,500 mark and continuing its upward momentum to reach a new record high. This surge was supported by a global rally in emerging market stocks, prompted by the easing of tensions between the US and key European trading partners, which enhanced the economic outlook for the world's largest economy. Gains were widespread across all sectors, with financial giants such as Itau, Bradesco, Itausa, and Banco do Brasil each advancing approximately 2%, setting a strong pace for leading banks. Concurrently, Petrobras saw an increase of over 2%, even as crude oil prices experienced a decline.