Bovespa Gains, Paring Weekly Drop, on Rate Optimism, Petrobras
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The Bovespa stock index rose for the first time in a week, led by Petroleo Brasileiro SA, as traders reduced bets for higher borrowing costs on speculation Brazil will control inflation.
Brookfield Incorporacoes SA rallied as the benchmark homebuilder index climbed for the first time in seven days on speculation recent declines are overdone given the prospects for real-estate demand. State-controlled oil producer Petrobras rose after UBS AG recommended buying the shares. Gerdau SA led steelmaker gains as companies boosted investment.