The Ibovespa rose 0.5% to close at 186,503 on Tuesday, supported by Petrobras and major financial stocks. Petrobras jumped 3.1% as oil prices extended their rally after Saudi Arabia shut down a key pipeline bypassing the Strait of Hormuz on Monday amid supply disruptions in the Middle East. Markets expect Brazil's Selic policy rate to fall to 13.75% from 14% on Wednesday, with recent inflation data remaining within the BCB's tolerance range. Itaú and Itaúsa each gained 0.8%, while BB Seguridade rose 1%. Gerdau climbed 3.1% and Usiminas advanced 3.3% after Safra initiated a long-short recommendation involving a long position in Gerdau and a short position in Usiminas. Gerdau was also named among the world's most trusted companies in the "World's Most Trustworthy Companies 2026" ranking for the fourth consecutive year.