Investor optimism about a recovering world economy helped raise Brazilian stocks today, as did strong Chinese industrial data.
The Bovespa index, Brazil’s benchmark, added 0.81 percent in morning trading and is on track for a third day in a row of gains. As the dollar hit a 15-month low against the major currencies, Brazil’s currency, the real, strengthened 0.47 to 1.709 per dollar.
Gains in China, the world’s third largest economy, huge commodities consumer and driver in global economic recovery, helped companies in Brazil, including oil producer Petrobas and mining company Vale, the two most heavily-weighted stocks in the Bovespa index.
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