FX.co ★ Ibovespa Rises on Oil Gains

The Ibovespa advanced nearly 1% on Tuesday, surpassing 190,000 points and moving closer to its all-time high, driven primarily by gains in oil-related stocks. Petrobras rose 1.5% as international crude benchmarks extended their rally ahead of new US–Iran nuclear negotiations scheduled for this week. The utilities sector also provided support, with Axia adding more than 1%.

On the downside, Gerdau dropped more than 3% after reporting a 21.1% year-on-year decline in net profit for 2025 compared with 2024. Investors are also looking ahead to earnings releases from C&A (+0.5%), GPA (+3%), Iguatemi (+0.5%), and ISA Energia (+0.4%) after the market close.