Brazilian Stocks Gain on Jobs, Credit Growth; Petrobras Surges
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Brazilian stocks gained for a second day, erasing this year’s decline, as Petroleo Brasileiro SA surged and investors speculate credit growth and job creation will keep consumer demand growing.
Lojas Renner SA and Rossi Residencial SA advanced as credit expands and the government said today that joblessness fell to a record. Petroleo Brasileiro SA surged the most in almost three weeks on speculation there will be enough demand for its $78 billion stock offering, which the company should disclose the price for today.