Ibovespa Hits Intraday Record with Banks and Prospect of Brazil-US Agreement

The Ibovespa regained the 147,000 points mark and reached a new intraday record this Monday, driven by the strong performance of bank stocks and the prospect of a tariff agreement between Brazil and the United States. Futures rates decline after another round of downward revisions in inflation expectations, reflecting the favorable outcome of the IPCA-15 in October, a movement that favors stocks linked to the domestic economy. By around 10:30 a.m., the index was up 0.80%, reaching 147,348 points, with a low of 146,174 points and a high of 147,977 points, a new record. At the time mentioned, the projected volume of the index was R$14.8 billion. Overseas, the S&P 500 futures were up 0.89% and the Stoxx 600 was gaining 0.05%. Today, investors are reacting to the successful meeting between President Luiz Inácio Lula da Silva (PT) and American leader Donald Trump. There is an expectation that the easing of tariffs on Brazil will be announced soon, while the market awaits the meeting between Trump and Chinese President Xi Jinping. Stocks of Banco do Brasil were up 1.07% and Bradesco’s preferred shares had a 1.33% increase. Vale’s ON stock was up 0.40% and Petrobras rose by 0.44%. Among the biggest gainers, Marfrig ON rose 5.72% and Usiminas PNA gained 3.85%, due to the strong increase in iron ore prices in Dalian, China.