Ibovespa Rebounds
The Ibovespa index climbed by 0.6%, closing at 142,145 on Wednesday, as the legislative body expedited the voting process on a new bill to substitute a proposed increase in the IOF tax. This bill seeks to maintain exemptions for incentivized securities and standardize the income tax on fixed-income investments at 18%. Leading the stock market gains was B3, the stock exchange operator, which saw a 3.5% increase. Other notable performers included Raia Drogasil with a 3.1% rise, Vibra which went up by 2.2%, and Ultrapar Participações, showing a remarkable surge of 5.5%. Meanwhile, the mining and steel sectors also posted positive moves, with Vale increasing by 0.8% and Gerdau by 2%. However, Petrobras saw a decline of 1% despite recent developments in contracts and Argentine gas imports, which are expected to bolster medium-term cash flow.
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