The Bovespa (IBOV) stock index rose for the first time in four sessions as power companies rebounded on speculation that recent losses were overdone.
State-controlled Centrais Eletricas Brasileiras SA was the best performer on the gauge after falling yesterday the most in six weeks amid concern that water levels at hydropower dams may lead Brazil to ration electricity. Online retailer B2W Cia. Global do Varejo advanced after a report showed that inflation slowed more than economists forecast.
The Bovespa advanced 0.5 percent to 61,404.41 at 10:48 a.m in Sao Paulo. Thirty-nine stocks rose on the measure while 28 fell. The real was little changed at 2.0426 per dollar. Swap rates on the contract expiring in January 2014 fell two basis points, or 0.02 percentage point, to 7.14 percent.
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