Ibovespa futures advanced as commodities including industrial metals and oil gained, buoying the outlook for Brazil’s raw-material exports.
Retailer Via Varejo SA (VVAR11) may move as it was rated a buy in new coverage at Banco Santander SA. Oil company QGEP Participacoes SA (QGEP3) may be active after saying production at its Atlanta field may start by the end of 2015.
Ibovespa futures contracts expiring next week advanced 0.6 percent to 46,995 at 9:19 a.m. in Sao Paulo. The real climbed 0.1 percent to 2.4001 per U.S. dollar. The Standard & Poor’s GSCI index of 24 raw materials advanced 0.4 percent. Commodities producers account for about 35 percent of the Ibovespa’s weighting, according to data compiled by Bloomberg.
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