Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Ibovespa Futures Rise as Gain in Commodities Supports Exporters

April 8 (Bloomberg) -- Ibovespa futures climbed, following the benchmark stock gauge’s advance to its highest level since November, as commodity prices increased, boosting the outlook for Brazil’s raw-materials exporters.

State-controlled Petroleo Brasileiro SA may be active after it found crude in the state of Rio Grande do Norte. CPFL Energia SA may move after Brazil’s power regulator allowed a subsidiary to raise rates less than it had requested.

Ibovespa futures contracts due this month rose 1.5 percent to 53,050 at 9:30 a.m. in Sao Paulo. The real strengthened 0.9 percent to 2.1998 per U.S. dollar. The Standard & Poor’s GSCI index of 24 raw materials climbed 0.5 percent. Commodities producers account for about one third of Ibovespa’s weighting.

Brazil’s benchmark equity gauge entered a bear market March 14 after falling 20 percent from its October high through that day. The gauge has since gained 16 percent as state-owned companies including Centrais Eletricas Brasileiras SA rebounded.

Trading volume of stocks in Sao Paulo was 7.35 billion reais yesterday, compared with a daily average of 6.55 billion reais this year, according to data from the exchange.

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

To contact the editors responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net Dennis Fitzgerald, Richard Richtmyer

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.