Skip to content
Subscriber Only

Ibovespa Rises as Airport Auction Bolsters Confidence in Brazil

The Ibovespa rose, snapping two days of losses, as an airport auction that lured bids almost four times the minimum bolstered optimism that Brazil will be able to attract investment and boost growth.

Toll-road operator CCR SA gained as a group led by the Sao Paulo-based company agreed to pay 1.82 billion reais ($796 million) for the right to operate an airport in Belo Horizonte for 30 years. Miner MMX Mineracao & Metalicos SA jumped the most in three weeks. State-run Banco do Brasil SA led banks lower.