Economics
Brazil's Stocks, Real Gain as Fed Bets Spark Appetite for Risk
- Equity benchmark posts longest advance since August 2014
- Itau, Bradesco and Petrobras contribute most to rally
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Brazil’s stocks capped their longest rally in 13 months and the real gained as speculation that the Federal Reserve will keep interest rates lower for longer bolstered riskier assets.
The equity benchmark rose for a fifth day as signs of weakness in the U.S. economy spurred bets that policy makers will defer removing stimulus that’s helped propel emerging-market assets higher. Lenders Itau Unibanco Holding SA and Banco Bradesco SA contributed the most to the gauge’s increase. Oil producer Petroleo Brasileiro SA climbed with crude. The real extended a two-day rally.