Brazil Assets Surge as Impeachment Move Brings Resolution Closer
- State-controlled Petrobras, Banco do Brasil pace advance
- Some investors optimistic political crisis closer to an end
Brazil Falters as Rousseff Fights for Political Life
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Brazilian stocks bucked a global selloff in equities and the currency jumped after a top lawmaker started the process to oust President Dilma Rousseff, boosting speculation the political crisis that has paralyzed the country is closer to an end.
All except eight of the 63 shares in the Ibovespa rose as state-run Petroleo Brasileiro SA and Banco do Brasil SA surged. A gauge of financial shares jumped the most in a month. The real had the biggest gain in almost five weeks.