Brazil Stocks Surge, Snapping Four-Day Drop, on Global Growth
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Brazil’s Bovespa stock index rose, snapping a four-day decline, after manufacturing expanded from China to the U.S. and investors speculated European policy makers will act to contain the region’s debt crisis.
Iron-ore miner Vale SA and state oil producer Petroleo Brasileiro SA rallied as metals and crude climbed. OGX Petroleo & Gas Participacoes SA, the oil company controlled by Brazilian billionaire Eike Batista, gained the most since June. Gerdau SA, the steelmaker whose second-biggest market is North America, jumped the most since May after U.S. employers added jobs at the fastest pace in three years.