Bovespa Stock Index Gains for 10th Day as Earnings Overshadow U.S. Growth

Brazil’s Bovespa stock index climbed for a 10th day, heading for its first monthly advance since March, after companies reported a jump in profit, overshadowing a slowdown in U.S. economic growth.

Retailer Lojas Renner SA led gains after saying second- quarter profit rose 90 percent. Vale SA, the world’s largest iron-ore producer, rose after reporting a fourfold increase in net income.

The Bovespa rallied 0.6 percent to 67,331.85 at 10:41 a.m. New York time. Fifty-one stocks advanced on the measure while 13 fell. The real was little changed at 1.7579 per dollar.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

• Tweet
• More
  • Business Exchange
  • Buzz up!
  • Digg
• Print
• Email