Brazil's Ibovespa rose 2.2% to close at 175,589 on Thursday, marking its second consecutive surge to record highs as the de-escalation between the US and Europe removed trade disruption risk. At the same time, firmer US activity data and steady PCE inflation helped stabilize global rate expectations. That backdrop fuelled strong gains in all sectors with financials leading the way with Banco do Brasil advancing 4.4%, Santander up 2%, Bradesco adding 3.4%, and Itausa climbing 3.7%. Mega-cap commodity producers Vale and Petrobras also lifted the index adding 1.1% and 0.9%, respectively.