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Brazil’s Stocks Rise Eighth Week as Vale Climbs With Commodities

  • Miner and steelmaker join global rally on iron ore prices
  • U.S. labor data fuel optimism regarding U.S. economy
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The Ibovespa advanced for an eighth straight week, the longest winning streak since 2009, as miner Vale SA and steelmakers including Gerdau SA followed commodities higher on Friday.

The benchmark index swung between gains and losses during the day as iron-ore price increases bolstered the outlook for producers of the raw material, while state oil giant Petroleo Brasileiro SA declined. Better-then-expected jobs data in the U.S. fueled optimism on growth in the world’s biggest economy. For-profit college manager Ser Educacional SA climbed to the highest since January after quarterly profit exceeded estimates.