The Ibovespa rose as brewer Ambev SA led gains among consumer stocks after a stronger currency eased concern faster inflation will curb Brazil’s economic growth.
Ambev was raised to the equivalent of buy at Morgan Stanley. Clothing retailer Lojas Renner SA climbed after Banco BTG Pactual boosted its recommendation to buy.
The Ibovespa gained 0.2 percent to 51,077.62 at 10:46 a.m. in Sao Paulo, with 40 stocks higher and 27 lower. The real climbed 0.8 percent to 2.3602 per U.S. dollar. Brazil’s swap rates, a gauge of expectations for interest-rate moves, fell on most contracts as the currency appreciated.
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