Brazil Stocks Rise With Vale as Bargain Hunters Bet on Recovery
- Steelmakers Usiminas, Gerdau lead gains on Ibovespa Monday
- Real’s depreciation makes Brazilian companies look cheaper
This article is for subscribers only.
The Ibovespa rose after its biggest three-day drop since 2011 attracted bargain hunters who remain optimistic over Brazil’s recovery from recession.
Miner Vale SA contributed the most to the benchmark equity index’s advance as the weakening of the real improved the profit outlook for exporters. Steelmakers Usinas Siderurgicas de Minas Gerais SA, known as Usiminas, and Gerdau SA were the best performers on the gauge.