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The Ibovespa advanced 1.3% on Tuesday, closing at 179,722 and extending its winning streak to ten sessions, supported by renewed expectations of continued Selic rate cuts. Brazil’s GDP grew more than expected in the second quarter of 2026, largely driven by the agricultural sector. However, the underlying details of the report were weaker, indicating that economic momentum is losing steam despite a tight labor market and short-term demand stimulus measures. For the BCB, the figures suggest that monetary policy has already delivered most of its restrictive impact, creating room for additional easing of the Selic rate. Among heavyweight stocks, the major banks rose, with Banco do Brasil up 2.3%, Bradesco 1.2%, and Itaú 0.9%. Exchange operator B3 gained 2.5% even as analysts lowered their estimates, as its buy rating was maintained. Petrobras climbed 4.1%, supported by higher oil prices and another monthly production record in July. In the retail sector, Casas Bahia soared 36.4%, lifting its two-day gain to 125% after the company confirmed an earlier-than-expected recognition of the effects of its judicial reorganization filing.
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