Bovespa Fluctuates as Producer Rally Offsets Inflation Concern
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The Bovespa stock index fluctuated between gains and losses as raw-materials producers rallied, offsetting concern inflation will quicken after the central bank signaled it may delay raising borrowing costs.
Petroleo Brasileiro SA, the state-controlled oil producer, advanced the most in a week at 9:51 a.m. New York time after President Luiz Inacio Lula da Silva said pre-salt areas hold more oil than the head of the company says. Cia. de Bebidas das Americas, Latin America’s largest brewer, led declines for companies that benefit most from domestic growth as traders bet that lower interest rates next year will force policy makers to tighten more in 2012.