The Ibovespa advanced 2.44% on Wednesday, July 22, to 177,500 points, driven by positive data from Vale and WEG.
The gain was led by Vale, whose shares rose nearly 4% after its second-quarter production and sales report exceeded expectations. WEG opened earnings season with net profit of 1.56 billion reais in the quarter, lifting its shares more than 10%.
Banks such as Bradesco and Banco do Brasil also closed higher, while the dollar fell to 5.05 reais. Oil traded near 95 dollars per barrel, supporting the Brazilian currency's resilience.
Analysts warn of volatility from Alphabet and Tesla earnings due tonight, plus this year's elections that are expected to affect domestic risk premiums.
