Ibovespa Futures Advance as China GDP Growth Boosts Commodities

Ibovespa futures rose as higher commodity prices boosted the outlook for Brazilian raw-material exporters after data showed faster growth in China.

Homebuilder MRV Engenharia e Participacoes SA (MRVE3) may move after saying third-quarter sales increased 35 percent from a year earlier. Petrochemicals producer Braskem SA (BRKM5) may be active after HSBC Holdings Plc raised its recommendation to the equivalent of buy.

Ibovespa futures contracts expiring in December climbed 0.4 percent to 54,775 at 9:15 a.m. in Sao Paulo. The real strengthened 0.1 percent to 2.1503 per U.S. dollar. The Standard & Poor’s GSCI index of 24 raw materials added 0.8 percent. China’s third-quarter gross domestic product expanded 7.8 percent from a year earlier, the statistics bureau said, which compared with 7.5 percent in the prior period.

In Brazil, consumer prices rose 0.48 percent in the month through mid-October, according to the national statistics agency. That was more than the forecasts of all 33 economists surveyed by Bloomberg.

The Ibovespa entered a bull market Sept. 9 after rising 20 percent from this year’s low on July 3 through that day. The gauge is still down 13 percent in dollar terms this year, compared with a decline of 1.3 percent for the MSCI Emerging Markets Index of 21 developing nations’ equities.

Trading volume of stocks in Sao Paulo yesterday was 7.74 billion reais, compared with a daily average of 7.61 billion reais this year through Oct. 16, according to data compiled by the exchange.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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