Economics
Bovespa Rallies as Inflation Concern Eases; Oil Companies Gain
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Brazil’s Bovespa stock index rose the most in two weeks as inflation concerns diminished because of a slowdown in economic growth and prospects for a new minimum wage that fell short of union demands.
Banco Santander Brasil SA surged the most in 11 weeks, leading a rally for banks. Redecard SA and Cielo SA, Brazil’s biggest card-payment processors, gained after Morgan Stanley recommended adding to holdings. OGX Petroleo & Gas Participacoes SA and Petroleo Brasileiro SA climbed after crude advanced and the oil companies disclosed offshore discoveries.