Brazilian stocks rally on rising optimism about the U.S. and Chinese economies

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Source: Dukascopy Bank SA
Brazilian stocks advanced, heading for their one week high, as Brazilian producers rallied on a surge in commodities. The optimism among investors has been raised on speculation the U.S. and Japanese bankers will take more measures to spur the economic growth. The Bovespa index climbed 0.6% to 61,877.20, mainly led by gains in the oil and gas shares. Only three out of nine sectors edged higher. OGX Petroleo & Gas Participacoes SA, the Brazilian oil company owned by billionaire Eike Batista, advanced 3.61%, the most in the benchmark index, and added to the rise in the gauge. Furthermore, Gol Linhas Areas Inteligentes, an airline company providing domestic flights in Brazil, soared 3.5%, capping gains in the consumer services sector that was 0.96% down. Centrais Electricas Brasileiras rallied 3.5%, contributing to a 0.3% increase in the utilities group. Meanwhile, Cia de Transmissao de Energia EletricaPaulista shrank the most in the gauge by 3.2% and bounded a further increase in utilities shares.

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