Brazil Stocks Climb as Commodity Producers Offset Consumer Slump
- Paper exporter Klabin, steelmaker CSN among best performers
- Natura’s disappointment highlights weak domestic retail sales
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The Ibovespa rose toward to four-year high as commodity producers advanced, outweighing disappointing reports at companies that depend on domestic demand.
Paper exporter Klabin SA rose after earnings beat analysts’ estimates in the three months through September. Steelmakers Cia. Siderurgica Nacional SA and Metalurgica Gerdau SA gained as metals advanced. Cosmetics maker Natura Cosmeticos SA slumped after profit trailed forecasts by almost 50 percent amid Brazil’s worst recession in a century.