The Ibovespa rose more than 0.5% to trade near 186,500 on Monday, recovering after ending the previous week lower as international oil prices declined. Oil weakened on hopes for diplomatic progress between the United States and Iran, with Iranian President Masoud Pezeshkian expected to attend the United Nations General Assembly in New York this week and US President Donald Trump saying he would be open to meeting him. Lower energy prices helped ease bond yields by reducing concerns that oil-driven inflation pressures would spread, supporting credit-sensitive stocks. Financial shares advanced, including gains of more than 1% for Itaú and Bradesco, while utilities also rose, with Axia up more than 1%. The financial market cut its forecast for the Selic rate, Brazil's benchmark interest rate, at the end of 2026 to 13.50% from 13.75%, while increasing its inflation forecast for this year to 4.92% from 4.90%, according to the Focus Bulletin released by the BCB (Brazilian central bank).