Bovespa Rises for Longest Weekly Rally in 11 Months; Real Gains
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Brazilian stocks rose for the sixth straight week, the longest streak in 11 months, on speculation the Federal Reserve will buy more debt to stimulate U.S. growth and China’s debt rating will rise, boosting the economic outlook for Brazil’s two biggest trade partners.
Petroleo Brasileiro SA, Brazil’s state-controlled oil company, rebounded from a 19-month low as crude rose and after saying it won’t sell more shares. Cielo SA advanced after Goldman Sachs Group Inc. recommended buying the stock. Banco Bradesco SA, Brazil’s second-biggest bank by market value, led a rally of financial stocks, helping the benchmark measure rise for the ninth time in 10 days.