20.10.202614:11:47UTC+00Ibovespa Rises on Banking and Energy Gains

The Ibovespa climbed more than 1% on Tuesday, trading close to the 208,000-point mark, driven by gains in the banking and energy sectors. The move followed the release, on Monday, of a Real Time Big Data poll for the presidential runoff, showing Flávio Bolsonaro with 52% of valid votes, compared with 48% for President Lula.

Although Bolsonaro has not yet presented detailed policy proposals, markets interpret his candidacy as more conducive to fiscal reforms, including potential spending cuts, which investors see as key to creating room for lower interest rates.

In the banking sector, major lenders advanced, with Itaú and Bradesco each adding around 1%. In the energy segment, Petrobras gained nearly 1%, supported by persistently high international oil prices amid rising geopolitical tensions in the Middle East.

Utilities also traded mostly higher, led by Sabesp, which climbed nearly 2%. Retail names staged notable advances, with Magazine Luiza surging more than 6%. Moving in the opposite direction, Vale retreated over 1%, pressured by falling iron ore prices in China.