Ibovespa rose nearly 16% between January and June with impetus of the entry of foreign capital; Fiscal scenario followed as a caution factor (Image: Money Times)
THE Ibovespa (IBOV) He had a semester for no one else to forget: entry of more than $ 20 billion of foreign capital and strong dollar slowdown in the real.
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From January to June, the main index of the Brazilian scholarship advanced 15.44% and recorded the best semester since 2016.
In the evaluation of Inter, the uncertainties of the tariff policies of the president of United States, Donald Trumphe put back the emerging markets ‘at stake’ – one of them, Brazil, which follows with the “cheap” bag.
Concerns about the fiscal scenario, in turn, have followed “firm and strong” over the past few months. Caution has increased last month with the presidential decree to raise the tax rates on financial operations (IOF) About exchange, credit to companies and private pension. The measure, however, received criticism and the Congress toppled the measure last Wednesday (25).
In the monetary issue, the semester ended Selic at 15% per year. In the last decision of the monetary policy committee (Copom), the collegiate of the Central bank signaled the closing of the high interest rate in the basic interest rate.
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The highest highs of Ibovespa in the semester
| CODE | NAME | Semester variation |
| Cogn3 | Cogna on | 164.15% |
| Asai3 | Assaí on | 103.43% |
| YDUQ3 | YDUQS ON | 100.12% |
| CVCB3 | CVC on | 73.91% |
| LREN3 | Renner on | 63.99% |
| TIMS3 | Tim on | 62.35% |
| Cyre3 | Cyrela on | 61.82% |
| Dirr3 | Directional on | 61.23% |
| TOTS3 | TOTVS ON | 58.77% |
| PSSA3 | Porto on | 57.40% |
The largest declines of the index in the semester:
| CODE | NAME | Semester variation |
| Radl3 | RD Health on | -30.96% |
| BRAV3 | Brava Energy On | -25.94% |
| SMTO3 | St. Martin | -24.42% |
| Raiz4 | Raízen on | -23.61% |
| Usim5 | PNA Usiminas | -22.56% |
| BRKM5 | Braskem PN | -22.11% |
| BRFS3 | Brf on | -20.94% |
| Klbn11 | Klabin Units | -19.10% |
| WEGE3 | WEG ON | -18.10% |
| Suzb3 | Suzano on | -17.16% |
What to expect from Ibovespa now?
Ibovespa is expected to continue to accumulate gains in the coming months. In the latest research of the Bank of America (Bofa), about two thirds of the back managers of the Latin America see the index above 140 thousand points at the end of 2025.
According to Bofa, expectations about companies’ profits have improved. In addition, the main external risk is no longer the tariffs imposed by the United States and became the possibility of a stronger dollar.
In addition, the Brazilian scholarship has already anticipated the 2026 elections.
Source: Moneytimes
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