Ibovespa enters Thursday after 0.42% gain with inflation in focus
Published on 11/12/2026 at 13:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSIbovespa enters Thursday with inflation in focus
- The Ibovespa closed at 172,060.43 points on November 11, gaining 0.42% from the previous session.
- Investors are awaiting Brazil's October IPCA inflation data, due at 09:00 Brasília time.
- A proposed 2027 fiscal adjustment and a Wall Street rally supported sentiment, while Petrobras shares weighed on the index.
Brazil's Ibovespa enters Thursday's session after closing at 172,060.43 points on Wednesday, November 11, according to The Rio Times. The benchmark gained 0.42% on the session, while the Brazilian real ended almost unchanged at 5.5827 per US dollar.
Inflation is the immediate test
The main event on Thursday is Brazil's October IPCA consumer-price report from IBGE, scheduled for 09:00 Brasília time. The Rio Times' morning call said economists expected monthly inflation of 0.26%, down from 0.82% in September, while the annual rate was forecast at 4.74%, up from 4.58%.
That combination would give investors a mixed signal. A softer monthly reading could support expectations that the central bank may eventually resume rate cuts, but an annual rate above the 4.5% ceiling of the target range would keep pressure on policymakers. The Copom held the Selic at 13.75% on November 4 after five consecutive cuts, according to the same report.
Fiscal proposal supports risk appetite
Wednesday's advance came against a difficult backdrop. Reuters, in a report carried by Fidelity, reported that Brazil's government planned mechanisms allowing deeper spending curbs under its fiscal rules. The report also said broader risk-taking, stronger commodity prices and gains in global markets helped Latin American assets.
The fiscal proposal remains a plan rather than an enacted measure. Its eventual impact will depend on the legislative details and whether Congress approves the additional spending controls. For Ibovespa investors, credible progress could reduce some of the fiscal risk premium, while a diluted proposal could limit that support.
Petrobras remains a drag
Petrobras shares moved against the broader index. The Rio Times reported that preferred shares fell 3.11% after the state-controlled oil company released third-quarter results with dividends below investor expectations. That weakness showed that the index's advance was uneven even as Wall Street's rally improved the external risk backdrop.
For Thursday, the inflation release is the key scheduled trigger before the market can assess whether the recent rebound has more support. The Ibovespa remains sensitive to interest-rate expectations, fiscal credibility and the direction of the real. Further coverage is available on the Bovespa topic page.
