Ibovespa futures rose as China’s stimulus measures fueled optimism that Brazil’s exporters will benefit from faster growth in the South American country’s biggest trading partner.
State-controlled oil producer Petroleo Brasileiro SA may move after approving financing of 4.5 billion reais ($1.5 billion) with Banco do Brasil SA. Power utility Eneva SA may be active as Grupo BTG Pactual said it has no intention of becoming the company’s controlling shareholder.
Ibovespa futures contracts due in June rose 0.6 percent to 55,115 at 9:10 a.m. in Sao Paulo. China’s reserve-requirement ratio was lowered 1 percentage point Monday, the People’s Bank of China said. The cut will allow banks to boost lending by about 1.2 trillion yuan ($194 billion).
“China’s government is taking action, and it would be great if the country could keep its growth pace,” Alvaro Bandeira, who oversees 248 million reais at Orama Asset Management in Rio de Janeiro, said in a telephone interview. “The mood in the Brazilian market is more positive.”
Trading volume of equities in Sao Paulo was 6.4 billion reais ($2.1 billion) on Friday, according to the exchange. That compares with a daily average of 6.77 billion reais this year.