Ibovespa reverses to gains on Petrobras rally amid political focus

Brazil's Ibovespa index swung from losses to gains, driven by a rally in Petrobras shares, while investors remained focused on the domestic political scenario. The reversal suggests market optimism tied to the state-owned oil company, though the specific catalyst is unclear. This matters as it indicates a risk-on shift in Brazilian equities, potentially linked to political or corporate developments.