Ibovespa Rises as Government Victory Offsets Oi Contagion Woes

  • Consumer stocks advance after agreement on state debt reached
  • Oi’s filing for bankruptcy protection hits Brazil’s banks

The Ibovespa rose for the fifth straight day after Acting President Michel Temer scored a political victory, fueling bets the new government can get support for a broader recovery plan and offsetting concern that a record bankruptcy filing will spread to other companies.

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