Topic: News – Brazil stocks up on commodities rally, real surges – Reuters
SAO PAULO, Jan 6 (Reuters) – A global rebound in stock markets and commodities prices on Tuesday helped Brazilian shares shrug off grim news on the domestic economy and notch a sixth consecutive session of gains. In a sign of growing confidence in a global market recovery, Brazil’s Treasury plans to sell $1 billion in 10-year global bonds, tapping international capital markets for the first time since May 2008, a source with knowledge of the deal said on Tuesday. BVSP of the Sao Paulo stock exchange rose 1. A rally in metals prices boosted mining and steel shares around the globe. The Bovespa rose despite data showing industrial production in Latin America’s largest economy had its worst monthly plunge in more than 13 years in November, with output dropping 5. Manufacturers that depend most on credit felt the brunt of the contraction, with 21 of 27 industrial sectors tracked posting declines, government data showed. read more