Brazilian Stocks Climb as Commodities Gain Lifts Steelmakers
- Ibovespa reverses losses as raw-material producers rally
- Government expected to announce crucial goals for finances
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The Ibovespa gained for the sixth time in seven sessions as higher commodity prices bolstered the outlook for Brazilian raw-material producers, with steelmakers among the biggest gainers.
Cia. Siderurgica Nacional was the best performer, with competitors Gerdau SA and Usinas Siderurgicas de Minas Gerais SA adding at least 2 percent. State-run oil producer Petroleo Brasileiro SA contributed the most to the Ibovespa’s gain. Mining company Vale SA jumped the most in a week.