Vale Jumps Most in Ten Months After $3 Billion Buy Back Plan
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Vale SA, the world’s largest iron-ore producer, rose the most in ten months in Sao Paulo after saying it will buy back as much as $3 billion of its shares.
The stock rose as much as 4.5 percent, the biggest gain since Sept. 1, to a two-month high of 46.63 reais and was trading at 46.46 reais as of 3:22 p.m. New York time.