Ibovespa closes higher, boosted by Petrobras and Vale, and returns to around 133 points.

By Paula Arend Laier

SAO PAULO (Reuters) - The Ibovespa closed higher on Wednesday, returning to the 133-point level at its best moment, a movement supported by blue chips Petrobras and Vale, following the rise in oil and iron ore prices abroad.

The Ibovespa, the benchmark index of the Brazilian stock market, rose 0,34% to 132.519,63 points, marking a high of 132.983,92 points and a low of 132.068,02 points during the day. Trading volume totaled R$21,5 billion.

On Wall Street, the S&P 500 closed down more than 1%, its performance pressured by declines in Nvidia and Tesla shares, while investors remain attentive to news surrounding the new US trade policy.

According to investment specialist Lucas Almeida, partner at AVG Capital, despite external tensions and persistent uncertainties regarding US tariffs, Brazil is benefiting from foreign capital inflows and a recovery in commodity prices.

"If the external scenario doesn't worsen, there may be room for the local market to remain strong in the short term," he stated.

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- PETROBRAS PN advanced 0,94%, in a positive day for oil companies, following the rise in oil prices abroad, where the price of Brent crude closed with an increase of 1,05%. In the sector, BRAVA ENERGIA ON rose 6,63%, also having on its radar the notification from the asset manager BTG Pactual WM of an acquisition of shares, reaching approximately 5,23% in the company.

- VALE ON closed up 0,61%, supported by gains in iron ore futures contracts in Asia, driven by seasonal demand for the commodity, although production cuts by some Chinese steel mills limited further gains.

- BRASKEM PNA jumped 9,68%. According to Almeida, the movement may be related to a possible expectation of divestments or restructuring. He highlighted that the stock is quite discounted compared to its peers and, given the more favorable technical scenario, investors seem to be anticipating purchases and pushing the stock higher.

- Localiza ON shares rose 4,75%, marking their second consecutive day of gains. The previous day, Abla, the association representing car rental companies in Brazil, stated that the sector is not expected to increase new car purchases this year. Movida ON, which is not part of the Ibovespa index, surged 9,79%.

- AUTOMOB ON fell 7,41%, with the board of directors' approved proposal for a share consolidation at a ratio of 50 to 1 on the radar. The previous day, the shares closed at R$0,27. The proposal will be voted on at a shareholders' meeting scheduled for April 25.

- JBS ON fell 2,7%, even after an operating result measured by adjusted EBITDA of R$10,79 billion in the last three months of last year, a 111,4% year-on-year increase. JBS showed optimism despite a challenging scenario for beef in the US. In the sector, MINERVA ON fell 3,18% and MARFRIG ON dropped 1,48%.

- ITAÚ UNIBANCO PN closed down 1,08%, bucking the positive trend among the major retail banks in the Ibovespa. BRADESCO PN advanced 1,63%, while SANTANDER BRASIL UNIT gained 0,66% and BANCO DO BRASIL ON rose 1,19%.