Pursuits
Bovespa Rises a Sixth Day, Led by Homebuilders, After Election
This article is for subscribers only.
The Bovespa rose for a sixth day, with homebuilders leading the equity index’s longest winning streak in two months, one day after Brazil’s first round of presidential elections.
Gafisa SA led a real-estate stocks rally after economists raised their 2010 economic growth forecast for the fifth straight week while traders reduced bets for borrowing-cost increases. OGX Petroleo & Gas Participacoes SA rose to a record as the 76 percent premium on China Petrochemical Corp.’s purchase of a stake in Repsol YPF SA’s Brazilian unit implied a higher value for the country’s oil assets.