Bovespa Rises in Last Trading Day of 2010 on Rates, Petrobras
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The Bovespa stock index rose on its final trading day of 2010, capping its worst annual performance relative to emerging-market peers, as traders pared bets for higher borrowing costs and Petroleo Brasileiro SA rallied.
Lojas Renner SA, Brazil’s biggest publicly traded clothing retailer, led gains for companies that benefit from credit expansion. State-controlled oil producer Petrobras climbed for a fifth day, the longest streak in two months, after saying it likely boosted Brazilian daily oil output to a record.