Bloomberg.com: Latin America: "July 28 (Bloomberg) -- Brazilian stocks advanced, breaking a four-day losing streak, as oil producers gained and mining companies and steelmakers helped the raw-materials industry rebound from a five-month low.
Petroleo Brasileiro SA, Brazil's state-controlled oil company, rose after posting the steepest three-day loss in more than six months. Cia. Vale do Rio Doce, the world's biggest iron- ore producer that counts on nickel for 30 percent of its revenue, climbed as metals gained in London. Gerdau SA, Latin America's biggest steelmaker, also helped the gauge of materials stocks in the MSCI Brazil Index pare its decline since the all-time high reached in May to 29 percent. Oil explorer OGX Petroleo e Gas Participacoes SA jumped after UBS AG rated it ``buy'' in new coverage.
The Bovespa index rose 0.8 percent to 57,665.16 at 1:23 p.m. New York time. The MSCI Brazil Index advanced 1.2 percent, while the MSCI Latin America Index added 0.5 percent. Mexico's Bolsa and Colombia's IGBC fell 1.1 percent."
Tuesday, 29 July 2008
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