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22.07.202613:43:45UTC+00Ibovespa Rallies on Strong Corporate Results

The Ibovespa climbed more than 1% on Wednesday, moving back above the 175,000 mark, driven by strong corporate earnings. Vale gained nearly 2% after reporting that iron ore output in the April–June period rose 0.8% year-on-year, marking its highest second-quarter production since 2018. Bradesco BBI reiterated its Buy recommendation on the stock after Vale’s sales volumes surpassed expectations.

WEG jumped close to 8% after posting solid operating margins and return on invested capital in the second quarter, despite year-on-year declines in both EBITDA and revenue. The company noted that revenue from international markets grew 14.7% in US dollar terms, while the appreciation of the real weighed on reported figures in local currency.

Petrobras advanced more than 1% as oil prices rose amid mounting tensions in the Middle East. On the trade front, a new 25% US tariff on a range of Brazilian products took effect today. Key export items such as beef, coffee, rare earths, energy products, aircraft, and aircraft parts remain exempt.

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