Bovespa Rises as Oil Producers Rally on Growth, Price Outlook

Brazil’s Bovespa stock index advanced, rebounding from the first drop in four days, as oil producers rallied on the outlook for rising crude prices and domestic exploration.

OGX Petroleo & Gas Participacoes SA surged the most in four weeks after crude advanced and a government agency found more evidence of offshore reserves. Petroleo Brasileiro SA climbed to a six-week high after Bank of America Corp. said the company showed a “strong recovery” in output. Vivo Participacoes SA, Brazil’s biggest wireless carrier, gained the most in four months on the plan to incorporate its stock into fixed-line provider Telecomunicacoes de Sao Paulo SA.