Brazil’s stock market rose 0.59% on Thursday to 145,720.98, helped by Petrobras after a fresh spike in crude tied to new U.S. sanctions on Russian oil majors.
The dollar eased 0.20% to 5.3861 reais. For investors outside Brazil, this is the headline—and the tell. B3 still moves first and fastest with oil.
Petrobras’ gain more than offset a small pullback in mining giant Vale, while industrial champion WEG advanced after reporting R$1.65 billion ($311 million) in third-quarter profit.
Five biggest winners captured the mood: Azzas 2154 (AZZA3) +5.55%; Braskem (BRKM5) +5.50%; WEG (WEGE3) +3.55%; Cosan (CSAN3) +3.53%; Assaí (ASAI3) +3.18%.
The laggards told another story—retail disruption and selective profit taking: Magazine Luiza (MGLU3) −5.64% after a Casas Bahia–Mercado Livre tie-up rattled the sector; Marfrig (MBRF3) −2.86%; Fleury (FLRY3) −1.73%; Motiva (MOTV3) −1.18%; Caixa Seguridade (CXSE3) −1.08%.
Cash volume reached R$19.4 billion ($3.66 billion). Behind the tape, two forces shaped the session. Globally, risk appetite improved as Wall Street closed higher and Europe edged up, helped by confirmation of a Trump–Xi meeting next week and the oil rally.
Markets Hold Steady as Brasília Balances Taxes and Spending
Locally, markets put fiscal worries on temporary mute while watching inflation and revenues. Finance Minister Fernando Haddad said Brasília will send twin proposals—one to raise income via new taxes on fintechs and betting, another to cap and cut spending.
Meanwhile, September federal revenue hit R$216.7 billion ($40.89 billion); year-to-date collections are R$2.105 trillion ($397.17 billion), both series records.
This is the story behind the story: a market levered to global commodities and domestic credibility. When oil pops, Petrobras pulls the index higher; when fiscal doubts flare, the currency and rates do the talking.
Retail’s slump shows how quickly competitive shocks can reprice entire segments. What to watch now: today’s IPCA-15 inflation preview—key to Brazil’s rates path—and whether oil’s jump filters into expectations.
Technically, the index sits near short-term resistance around 146,360 with support near 144,900. Hold above 145,000 and the up-swing has room; slip back and dip-buyers will test their conviction.