Ibovespa Climbs to Three-Year High on Brazil Economic Outlook
- Banco do Brasil, Petrobras amid best performers on index
- Real leads gains among major currencies on recovery bets
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The Ibovespa rose to a three-year high as President Michel Temer expressed confidence the country is getting back on track and predicted an economic rebound will take hold in the final three months of the year. The real was little changed.
The benchmark equity gauge added 1.5 percent to 62,696.11 at the close of trading in Sao Paulo, the highest level since January 2013. Petroleo Brasileiro SA, the state-controlled oil company, was the biggest contributor to the Ibovespa’s advance after it said crude and gas output rose to a record in September.