Brazil’s Bovespa Index Gains as Fed Bets Overshadow Inflation

The Bovespa stock index rose for a second day on speculation the Federal Reserve will take further measures to stimulate growth for the second-biggest buyer of Brazil’s exports, overshadowing higher inflation forecasts.

Real-estate firm Brookfield Incorporacoes SA capped the biggest two-day gain since May after contracted sales jumped. BM&FBovespa SA, the operator of the Sao Paulo exchange, rose to a record as Bank of America Corp. said it will benefit from increased inflows following Petroleo Brasileiro SA’s record $70 billion share sale. Empresa Brasileira de Aeronautica SA, the world’s fourth-largest aircraft maker, gained the most in three weeks after a report said it plans to keep operations in China.