The Ibovespa gained 0.3% to trade above 144,000 on Wednesday with support from heavyweight Vale. The miner climbed over 1% after reporting its highest quarterly iron ore output since 2018, rising 3.4 million tonnes from the previous year to 94.4 million tonnes in Q3 2025. Vale also received support from iron ore futures, that advanced amid optimism over easing US-China trade tensions and potential stimulus from Beijing. Oil prices extended gains for a second day, boosting Petrobras by 0.6% as India reportedly considers cutting Russian oil imports. Banks were also higher, with Banco do Brasil rising 0.2%, and Bradesco 0.4%. Romi surged over 5% after reporting a 15.3% annual increase in quarterly net profit to R$27.4 million. On the downside, WEG fell 0.8% after results missed expectations, while Ambev slipped 0.9% amid weak sales outlook. Fleury sank near 5% after JPMorgan downgraded the stock, following reports that Rede D’Or’s acquisition talks had collapsed.