Ibovespa futures rose, following the stock gauge’s third straight weekly gain, as a measure of inflation in Brazil climbed less than forecast and a poll showed reduced support for President Dilma Rousseff’s re-election.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar may move after Deutsche Bank recommended buying the retailer’s shares. Lender Banco Santander Brasil SA, the Brazilian unit of Spain’s biggest bank, may be active after agreeing to purchase a controlling stake in card-payment processor GetNet for 1.1 billion reais.
Ibovespa futures contracts due this month advanced 1.2 percent to 51,895 at 9:28 a.m. in Sao Paulo. The real weakened 0.4 percent to 2.2450 per U.S. dollar. Swap rates, a gauge of expectations for interest-rate moves, fell on most contracts as a report showed inflation was slower than estimated in March.
Wholesale, construction and consumer prices as measured by the IGP-DI index rose 1.48 percent last month from February, the Getulio Vargas Foundation reported. The median forecast of 24 economists surveyed by Bloomberg was for a 1.59 percent increase.
Rousseff’s support fell to 38 percent from 44 percent in February in a Datafolha poll that pitched her against opposition candidates Aecio Neves and Eduardo Campos. She still had more than the level of backing a candidate would need to win the first round of voting this year as her rivals were little changed in the polling. The April 2-3 survey of 2,637 people had a margin of error of plus or minus 2 percentage points.
Brazil’s benchmark equity gauge entered a bear market on March 14 after falling 20 percent from its October high through that day. The gauge has since gained 14 percent as state-owned companies including Centrais Eletricas Brasileiras SA rebounded.
Trading volume of stocks in Sao Paulo was 7.27 billion reais on April 4, compared with a daily average of 6.53 billion reais this year, according to data from the exchange.