Brazilian Stocks Rise as Petrobras Follows Crude Prices Higher
- State-run oil giant among top contributors to Ibovespa advance
- Vale drops the most in a month after China trade data
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Brazilian stocks advanced as Petroleo Brasileiro SA followed crude higher, offsetting losses in Vale SA after a trade report from China dimmed the outlook for exporters.
Petrobras, as the state-run oil producer is known, contributed the most to the Ibovespa’s gains. Poultry producer Marfrig Global Foods SA was the best performer on the stock benchmark. Vale, the world’s biggest iron-ore producer, fell the most in a month after China’s customs administration said imports unexpectedly declined in September.