Bovespa Has Biggest Weekly Jump in 11 Months as Commodities Gain
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The Bovespa index posted its biggest weekly advance in 11 months as the Federal Reserve’s bond-purchase program spurred a commodities rally, boosting the outlook for Brazilian exporters.
The Bovespa rose 0.2 percent to 62,105.47 in Sao Paulo today, extending its weekly advance to 6.5 percent. Brazilian stocks jumped the most in seven weeks yesterday after the Fed said it will expand holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month.