Ibovespa Surges Amid Easing Oil Prices and Diplomatic Breakthrough

The Ibovespa index closed higher on Monday, up by 0.7% to 175,335, as oil prices retreated following a pause in the Middle East conflict.

The US and Iran had halted strikes over the weekend amid renewed diplomatic efforts, with President Trump reportedly open to restarting peace talks.

This development eased inflation concerns and led to a pullback in crude prices, which supported financials such as Itaú, gaining 1.4%, Bradesco rising 1.2%, and Itaúsa advancing 2%.

Utilities also moved higher, with Axia increasing by 2% and Sabesp up by 1.7%. WEG gained 0.9% after a positive rating upgrade from Bradesco BBI and JPMorgan.