Bovespa Index Extends Gain to Longest in Three Months on Output
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The Bovespa stock index rose for a sixth day, the longest advance in three months, after Brazilian industrial production grew more than forecast and rising commodity prices boosted producers.
Usinas Siderurgicas de Minas Gerais SA climbed 2.3 percent, extending its two-day advance to the biggest since July and leading an advance for steelmakers. Companies that benefit from domestic demand rallied, led by retailer Lojas Americanas SA’s steepest surge in seven weeks. Iron-ore miner Vale SA rose to the highest level in more than two years and state-controlled energy producer Petroleo Brasileiro SA gained as metals and oil prices increased.