Bovespa Stock-Index Futures Rise as Crude Oil Increases; Real Strengthens

Bovespa stock-index futures gained as a surge in oil bolstered Petroleo Brasileiro SA and as reports on China’s imports indicate Brazil’s biggest buyer of exports may feed global growth.

Petrobras, as Brazil’s state controlled oil company is known, advanced in U.S. trading as crude rose to near a three- week high. OGX Petroleo & Gas Participacoes SA may be active after two people with knowledge of the matter said Cnooc Ltd. and China Petrochemical Corp. may make an offer worth at least $7 billion for a minority stake in the Brazilian oil company.

Bovespa futures rose 0.2 percent to 67,195 at 8:18 a.m. New York time. The real climbed 0.1 percent to 1.7186 per dollar, from 1.7203 yesterday.

Brazilian stocks gained the most in a week yesterday after the central bank signaled policy makers will end interest-rate increases this year.

China posted a third straight trade surplus of more than $20 billion in August as imports climbed 35.2 percent, faster than the median forecast in a Bloomberg News survey.

Oil climbed as economic indicators from the U.S. and Asia restored confidence that the recovery will stimulate fuel demand.

Investors added the most in six weeks to equity funds tracked worldwide, according to research firm EPFR Global. The funds took in a net $8.43 billion in the week ending Sept. 8, according to the Cambridge, Massachusetts-based company. About $1.87 billion was added to emerging-market equity funds during the week, the data showed.

To contact the reporter on this story: Alexander Ragir in Rio de Janeiro at aragir@bloomberg.net

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