Ibovespa Futures Advance as Crude-Oil Drop Buoys Global OutlookDenyse Godoy
Ibovespa futures rose as a decline in crude oil supported the outlook for global growth.
Pulp producer Fibria Celulose SA may be active after saying it will increase prices starting Jan 1. Fixture manufacturer Duratex SA may move as Banco Santander Brasil SA cut its recommendation on the stock to hold.
Ibovespa futures contracts due this month climbed 0.2 percent to 52,490 at 9:35 a.m. in Sao Paulo. Oil futures dropped as much as 1.4 percent in London.
The Ibovespa has fallen 16 percent from this year’s high in September as President Dilma Rousseff’s re-election Oct. 26 ended speculation that a victory for an opposition candidate would help to revive Latin America’s largest economy.
Trading volume of equities in Sao Paulo was 7.5 billion reais ($2.9 billion) yesterday, according to the exchange. That compares with a daily average of 7.3 billion reais this year.