23.09.202515:03:06UTC+00Ibovespa Gains as Markets Eye Lula and Haddad Speeches

The Ibovespa index rose by 1%, surpassing the 146,500 mark on Tuesday, as investors focused on speeches from key economic figures such as Finance Minister Haddad, President Lula, and Fed Chair Powell, as well as the release of minutes from Bacen’s recent meeting. In an interview, Haddad expressed confidence that Brazil can easily redirect its exports following the recent increase in U.S. tariffs. Concurrently, President Lula delivered a speech at the opening of the UN General Assembly. On the domestic front, the minutes from Copom indicated that following a robust cycle of interest rate hikes, the Selic rate will remain stable to ensure alignment with the inflation target. Additionally, federal revenue experienced a real-term decline of 1.5% in August compared to the same period last year, totaling R$208.8 billion, marking the first decline of 2025. Despite this, cumulative revenue from January to August increased by 3.7% in real terms, reaching R$1.89 trillion—a record high for this period. In the stock market, shares of Petrobras rose 1.1% and Vale edged up 0.2%, while banking giants Itaú and Bradesco recorded gains of 1% and 0.7%, respectively. Most retailers, notably Magazine Luiza with a 1.6% rise and C&A with a 1.8% increase, also posted improvements.