Bovespa Index Rises for Fourth Day as Commodities Surge on Fed
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Brazil’s Bovespa index rose for a fourth day, climbing within 0.8 percent of a record, as oil and metals prices surged on speculation the Federal Reserve’s stimulus will bolster demand for raw-materials exports.
Vale SA, the world’s biggest iron ore producer, and Petroleo Brasileiro SA, Brazil’s state-controlled oil company, advanced as metal and oil prices increased. Cia. Siderurgica Nacional SA and Usinas Siderurgicas de Minas Gerais SA led gains on the Bovespa index as steelmakers surged.