Bovespa Rises Second Day as Slower Inflation Eases Rate Outlook
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Brazilian stocks rose for a second day, bringing the Bovespa index above its level at the end of last year, as slower-than-forecast inflation spurred traders to pare bets for higher borrowing costs.
Retailer Cia. Brasileira de Distribuicao Grupo Pao de Acucar and homebuilder Cyrela Brazil Realty SA Empreendimentos e Participacoes led gains for companies that benefit from credit expansion. Petroleo Brasileiro SA, Brazil’s state-controlled oil company, advanced after reporting larger-than-estimated crude reserves.