Ibovespa Jumps Ahead of Datafolha Poll

The Ibovespa jumped 1.8% to close at 171,032 on Friday, supported by a broad rally in financial stocks. The political landscape remained in focus ahead of a new Datafolha poll on Brazil’s October presidential election, due after the close. On Monday, a BTG/Nexus poll showed President Lula and Senator Flávio Bolsonaro, viewed by markets as more fiscally restrictive amid elevated domestic yields and weak business activity, in a technical tie in a potential runoff. Bond yields fell on expectations of a tighter presidential race and broad-based weakness in the US dollar. Itaú rose 2.9%, Bradesco added 3.1%, Itaúsa gained 2.5%, and B3 jumped 5.2%. Utilities also advanced, with Axia up 1.4% and Sabesp rising 1.9%. Vale added 1.4% as iron ore prices firmed, while CSN Mineração (+4.8%), CSN (+7.6%) and Usiminas (+7.9%) rallied. Embraer (-1%) and Petrobras (-0.1%) were among the few laggards.




