FX.co ★ Ibovespa Gains Ahead of BCB Selic Decision

The Ibovespa climbed nearly 1% on Tuesday, moving back above the 179,000 level, supported by weaker oil prices and rising expectations of a Selic rate cut. Crude retreated after U.S. President Donald Trump called off planned strikes on Iran in an effort to revive negotiations, easing fears of energy-driven inflation. This more benign backdrop strengthened bets that the BCB will lower its benchmark interest rate from 14.25% at Wednesday’s meeting.

Financials led the advance, with Itaúsa up about 1% and B3 gaining more than 2%. BB Seguridade added over 1% after posting a 3.2% year-on-year increase in net profit. Vale rose roughly 2.5% on the back of firmer iron ore prices, while utilities also traded higher, with Auren and Sabesp each advancing around 1.5%. Ambev and WEG were up about 1%, whereas Petrobras slipped 1%, tracking the decline in oil prices. Investors were also awaiting earnings results from Itaú, Gerdau, RD Saúde, and Prio after the closing bell.