Ibovespa Hits 186,000 on Risk Appetite, Election Hopes; Oil Drop Caps Gains

Brazil's Ibovespa rose 0.74% to 186,596 points, supported by global risk appetite and expectations of a power change in October elections, despite a fourth consecutive session of falling oil prices pressuring Petrobras. Treasury yield relief aided local fixed income and banks led gains. The index's advance reflects a continued rally driven by election optimism, with oil weakness a partial offset.