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Ibovespa Futures Gain as IMF to Improve Outlook for U.S. Economy

Dec. 23 (Bloomberg) -- Ibovespa futures advanced after the International Monetary Fund said it will raise its forecast for economic growth in the U.S., Brazil’s biggest trading partner after China.

Apparel retailer Lojas Renner SA may be active after Bank of America Corp. recommended buying the stock. Air carrier Gol Linhas Aereas Inteligentes SA may move after saying a measure of profitability increased in November.

Ibovespa futures contracts expiring in February added 0.6 percent to 51,855 at 9:25 a.m. in Sao Paulo. The real strengthened 0.3 percent to 2.3781 per U.S. dollar.

IMF Managing Director Christine Lagarde said yesterday on NBC’s “Meet the Press” that falling U.S. unemployment and the bipartisan agreement over next year’s budget “gives us a much stronger outlook for 2014.”

The Ibovespa has declined 28 percent in dollar terms this year, the worst performance among the 20 biggest equity indexes tracked by Bloomberg. The MSCI Emerging Markets Index has dropped 6.1 percent.

Trading volume of stocks in Sao Paulo was 6.49 billion reais on Dec. 20, compared with a daily average of 7.47 billion reais this year, according to data available from the exchange.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net

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