The Ibovespa rose about 0.2% on Tuesday, trading above 136,000 in a volatile session as investors reacted to the latest central bank minutes. Policymakers signaled a possible pause in the monetary tightening cycle, stating that the Selic rate may be held steady for a “fairly prolonged” period to ensure inflation converges toward the target.
Globally, markets responded positively to news of a ceasefire between Israel and Iran, announced by US President Trump after Washington’s strikes on Iranian nuclear sites. However, tensions resurfaced after Israeli Defense Minister Israel Katz said he had ordered fresh attacks on Tehran, challenging the truce. Oil benchmarks extended their plunge and iron ore prices fell in major Asian trading hubs. Consequently, Petrobras shares dropped more than 2% while Vale, CSN, and Gerdau traded in the red. On the other hand, retailers were mostly higher with Magazine Luiza and Casas Bahia adding between 3% and 0.5%.
