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The Ibovespa rose nearly 1% on Thursday, moving above the 173,000 mark as investors responded to weaker-than-expected US labor market data. The US economy created 57,000 nonfarm jobs last month, well below the consensus forecast of 110,000, which tempered expectations of a Federal Reserve rate hike later this month and led markets to reassess the monetary policy outlook.
Financial stocks advanced, with Itaú up 1.5%, and Bradesco and Banco do Brasil gaining more than 1%. Utilities also traded higher, led by Axia, which climbed nearly 2%. Vale added over 1.5% as iron ore prices firmed.
Petrobras gained more than 1.5% despite softer oil prices, following reports that the company plans to enter the nuclear power generation segment by installing a small modular reactor (SMR) at one of its refineries as part of its decarbonization strategy. Among other notable movers, Ambev rose 1%, Rede D’Or gained 1%, and Embraer advanced 1.5%.
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