The Ibovespa gained nearly 1% to trade above 181,000 on Tuesday as the central bank began its Selic rate meeting, with markets pricing a 0.25 to 0.50 percentage point cut, potentially marking the start of a rate reduction cycle. Bond yields edged lower and major banks traded higher. Meanwhile, Petrobras rose over 1.5% as oil prices climbed following fresh Iranian attacks on the UAE, reigniting supply fears amid Strait of Hormuz disruptions. Likewisem Vale advanced 1% on higher iron ore prices, driven by rising Chinese demand for construction steel. Elsewhere, Sabesp gained 1.2% after reporting strong Q4 2025 results and approving R$583.6 million in interest on equity for the fiscal year.