FX.co ★ Ibovespa Trades Mixed as Markets Await Central Bank Decisions

On Monday, the Ibovespa index experienced fluctuations, straddling the 178,000 level as investors prepared for this week's monetary policy announcements. The Brazilian Central Bank is anticipated to maintain the Selic rate at 15%, with market participants eagerly watching for indications of the commencement of a potential easing cycle. Similarly, in the United States, the Federal Reserve is expected to keep interest rates steady. Bank performances were mixed, as Itaú fell by 0.4%, while Banco do Brasil saw a 0.6% increase. Petrobras shares rose by 1.3%, following their announcement of an investment of R$2.9 billion into five gas carriers, 18 barges, and 18 push boats, which will significantly boost Transpetro’s LPG transport capacity. Vale experienced a 0.5% increase, despite a slight decline in iron ore prices. The utilities sector lagged, with Axia dipping by 0.7% and Eneva dropping 1.3%. Meanwhile, WEG saw a significant rise of over 2% after initiating experimental production of permanent magnets from rare earths in Brazil as part of the MagBras project.