Brazil’s Stocks, Real Gain as Temer Victory Fuels Recovery Bets

  • New lower house speaker expected to support government agenda
  • Advance in commodities also boosts Ibovespa and currency

The Ibovespa advanced to its highest level in 14 months and the real climbed for a third day after an ally of Acting President Michel Temer became the new lower house speaker, signaling Brazil’s interim government has a better chance of winning lawmakers’ support for a plan to pull the country out of recession.

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