Brazil Stocks Gain on Easing Inflation Concern, Gafisa Profits
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Brazilian shares gained, rebounding from the Bovespa index’s biggest fall in almost a month, after a central bank report signaled less concern over inflation and homebuilders’ earnings beat estimates.
Gafisa SA and PDG Realty SA Empreendimentos & Participacoes, Brazil’s second- and third-biggest real-estate companies, rallied on higher than forecast third-quarter profit. B2W Cia. Global do Varejo and Lojas Renner SA led gains for retailers after traders pared bets for interest rate increases. BM&FBovespa SA, the operator of Latin America’s biggest securities exchange, advanced the most in a month after Goldman Sachs Group Inc. recommended buying the stock.