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Ibovespa Futures Advance as Gain in Commodities Bolsters Exports

Ibovespa futures climbed, after the stock index fell yesterday the most in a week, as higher commodities boosted the outlook for Brazil’s exports.

Brewer Ambev SA (ABEV3) may move after Banco Santander SA raised its recommendation to buy. BM&FBovespa SA (BVMF3), the operator of Latin America’s biggest securities exchange, may be active after saying it plans to invest as much as 260 million reais ($112 million) in 2014.

Ibovespa futures contracts expiring this month rose 0.2 percent to 50,250 at 9:18 a.m. in Sao Paulo. The real weakened 0.1 percent to 2.3225 per U.S. dollar. The Standard & Poor’s GSCI index of 24 raw materials gained 0.1 percent as investors awaited the Federal Reserve’s decision today on whether to pare monetary stimulus. Commodities producers account for about 38 percent of the Ibovespa’s weighting.

Brazil’s main equity index has dropped 28 percent in dollar terms this year, the worst performance among the 20 biggest equity indexes tracked by Bloomberg, on concern the economic recovery will falter and reduced monetary stimulus in the U.S. will curb demand for emerging-market assets.

Trading volume of stocks in Sao Paulo was 5.28 billion reais yesterday, compared with a daily average of 7.45 billion reais this year, according to data available from 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: Brendan Walsh at bwalsh8@bloomberg.net

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