Ibovespa Rises Most in World as Commodity Gain Lifts Currency
- Iron-ore miner Vale leads raw-materials producers' advance
- Cheap valuations lure investors to lenders Itau, Bradesco
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The Ibovespa led gains among the world’s stock markets Wednesday as a rebound in commodity prices spurred a rally in Vale SA and helped lift Brazil’s real.
The benchmark index climbed 2.6 percent, the most among more than 90 global gauges tracked by Bloomberg. Vale, the world’s largest iron-ore miner, led gains among raw-material producers. Lenders Banco Bradesco SA and Itau Unibanco Holding SA contributed the most to the Ibovespa’s advance after the stocks tumbled Tuesday on concern that a rise in bad loans will sap profit. The real added 2.4 percent, bolstered by the outlook for more dollars coming into the country from grain and metal exports.