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2026.03.2513:52:44UTC+00Ibovespa Climbs on Iran Ceasefire Hopes

The Ibovespa climbed nearly 2% on Wednesday, moving back above 185,000 points, after reports suggested a possible ceasefire in the US-Israel conflict involving Iran, fueling expectations of a resumption in Persian Gulf oil exports. The prospect of increased supply pushed international oil prices lower, easing concerns over energy-driven inflation. Major banks advanced, with Bradesco and Banco do Brasil each gaining around 2%. Utilities also traded higher, as Axia and Sabesp rose close to 2%. Among other standouts, Vale added 1.9%, Rede D'Or gained 2.7%, and WEG advanced 3%. In contrast, Petrobras fell more than 1%, pressured by the drop in oil prices and the outlook for looser supply conditions.

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