MMX Rises to Eight-Month High as Iron-Ore Prices Rebound
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MMX Mineracao & Metalicos SA, the iron-ore producer controlled by Brazilian billionaire Eike Batista, climbed to the highest in more than eight months as prices for the steelmaking ingredient increase.
MMX, based in Rio de Janeiro, gained 4.1 percent to 9.39 reais in Sao Paulo today, the highest since May 31. The stock has climbed about 41 percent this year, the biggest increase in the Brazilian benchmark Bovespa index.