On Friday, the Ibovespa index experienced a 0.8% increase, closing at 143,399, driven by improved US–China trade relations and several favorable developments in commodities and specific companies. A key factor was President Trump's statement that the extreme tariffs were "not sustainable," along with encouraging trade discussions between Brazilian and US officials. This alleviated tariff-related concerns, benefiting mining companies and exporters. WEG saw a substantial 4.9% rise, while Ambev, Banco do Brasil, and Eletrobras posted gains of approximately 1.7%, 1.3%, and 2%, respectively. Energy stocks performed well after the ANP's approval to restart operations at Peregrino boosted PRIO, and Petrobras remained strong as oil prices stabilized in the mid-$50 range. Major banks recovered from earlier declines as difficulties in US regional banks did not impact Brazilian financial institutions, reducing liquidity fears. However, the rally remains selective and not widespread due to persistent domestic challenges, notably the modest 0.4% growth indicated by the IBC-Br and ongoing fiscal uncertainties related to the IOF measure and the 2026 fiscal target.
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