Sept. 20 Brazil’s Bovespa stock-index futures advanced as metals prices rose and investors speculated economic growth won’t be stalled by a U.S. or European slowdown.
Vale SA, the world’s biggest iron ore producer, surged in U.S. trading as metals prices gained for a sixth day. Braskem SA, Latin America’s largest petrochemicals producer, may be active after saying its board approved the sale of perpetual bonds, without disclosing the amount. Sao Paulo Alpargatas SA may move after the maker of Havaianas flip-flops said it will get financing of 110.5 million reais ($64.5 million) from Brazil’s national development bank, known as BNDES.
Bovespa index futures rose 0.5 percent to 67,850 at 8:26 a.m. New York time. The Bovespa index on Sept. 17 dropped the most this month after U.S. consumer confidence unexpectedly fell, casting doubt on the strength of the economic recovery. The real gained 0.5 percent to 1.7135 per dollar, from 1.7213 on Sept. 17.
Brazilian economists expect the economy to grow 7.47 percent in 2010, from a previous estimate of 7.42 percent, according to a weekly survey by the central bank published today. Brazilian inflation will end 2011 at 4.95 percent, up from a week earlier forecast of 4.90 percent, the survey showed.
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