Brazil Stocks Rise for Second Day on Metal Prices, Rate Outlook
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Brazilian stocks advanced for a second day, sending the Bovespa stock index to the highest in five weeks, as metals prices rose and the central bank signaled bigger interest rate increases may not be needed to curb inflation.
Gerdau SA, Latin America’s largest steelmaker, gained the most in three months on a plan to explore options for its iron-ore assets amid soaring prices. Miners Vale SA and MMX Mineracao & Metalicos SA jumped as copper rose to a two-week high.