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No. 1 Stock Market in Americas Forecast to Climb 15% Next Year

  • Brazil’s Ibovespa index up 31% in 2019 for fourth annual gain
  • Strategists cite growth, reform and low rates among drivers
The Brasil Bolsa Bacao stock exchange in Sao Paulo.

The Brasil Bolsa Bacao stock exchange in Sao Paulo.

Photographer: Patricia Monteiro/Bloomberg

Brazil’s stock market, this year’s best performer in the Americas, is forecast to extend its record-setting rally in 2020.

The Ibovespa index will climb 15 percent from Friday’s close to 131,900 by the end of next year, according to the average estimate of 10 strategists surveyed by Bloomberg. That would mark a fifth straight year of gains, on par with the 2004-2007 stretch as the longest run of positive returns on record.