Brazil: Ibovespa Closes the Week Higher.

The Ibovespa rose 0.8% to close at 143,399 on Friday after a thaw in US–China trade rhetoric and a string of commodity and company-specific catalysts. President Trump’s comment that extreme tariffs were “not sustainable,” together with positive trade talks between Brazilian and US officials, reduced tariff tail risk, lifting miners and exporters. WEG led gains with a 4.9% jump, while Ambev, Banco do Brasil and Eletrobras advanced about 1.7%, 1.3% and 2% respectively. Energy names outperformed after ANP clearance to restart Peregrino sent PRIO higher and Petrobras traded firmer as oil held in the mid-$50s. Large banks pared earlier losses as stress at US regional lenders failed to spill over into Brazil, removing a liquidity overhang. Offsetting those positives are clear domestic constraints—most notably the IBC-Br’s tepid 0.4% print and unresolved fiscal questions around the IOF measure and the 2026 target—which keep the rally selective rather than broad based.