Bovespa Retreats, Paring Weekly Gain, on Inflation, Bank Rout

Brazil’s Bovespa stock index fell for a second day, trimming its weekly gain, as a report showed inflation last year quickened faster than forecast and banks tumbled for a second day.

B2W Cia. Global do Varejo, the nation’s largest Internet retailer, fell as traders increased bets that policy makers will have to raise borrowing costs to slow inflation. Itausa - Investimentos Itau SA led a drop for financial shares on concern government measures to contain currency gains and restrict credit will hurt earnings.