Ibovespa Futures Climb as Commodity Gain Boosts Export OutlookDenyse Godoy
Ibovespa futures rose as an advance in commodity prices improved the outlook for Brazil’s producers of raw materials.
BM&FBovespa SA, the operator of the nation’s stocks and derivatives exchange, may move as Banco Votorantim SA cut its recommendation to the equivalent of hold.
Ibovespa futures contracts due in October added 0.8 percent to 59,745 at 9:23 a.m. in Sao Paulo. The Standard & Poor’s GSCI Index of raw materials gained 0.2 percent. Commodity producers account for about a third of the Ibovespa’s weighting.
Brazil’s benchmark equity index has gained 30 percent from this year’s low on March 14, making it the best performer in the span among major stock markets, as state-run companies jumped on speculation that President Dilma Rousseff will lose her re-election bid.
Trading volume of equities in Sao Paulo was 4.9 billion reais on Aug. 22, according to the exchange. That compares with a daily average of 6.55 billion reais this year.