By Alexander Ragir
Feb. 6 (Bloomberg) -- Brazilian stocks rose for a fourth day on optimism government measures worldwide will ease the financial crisis and bolster demand for the nation’s commodity exports.
Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, rose 2.3 percent to 32.08 reais. The Bovespa index gained 1.1 percent to 41,559.93 at 8:29 a.m. New York time.
The Bloomberg Base Metals 3-Month Price Commodity Index gained 3 percent to 116.96, extending this week’s advance to 7.2 percent.
Gross domestic product in China, the biggest consumer of steel and iron-ore, probably will expand at an annual rate of 12 percent in the current quarter after shrinking by 2.3 percent in the fourth quarter, Deutsche Bank AG forecast today in a report.
A U.S. Treasury official yesterday said Secretary Timothy Geithner will make a speech on Feb. 9 and President Barack Obama will hold a news conference that will address a stimulus package.
The plan is likely to emphasize guarantees of toxic assets over proposals to create a so-called aggregator bank that would remove them from balance sheets, according to people familiar with the plan.
The Bovespa rose 11 percent this year on speculation government efforts to support growth and falling interest rates will help the economy expand and increase demand for equity.
The gauge tumbled 41 percent in 2008 as credit losses and writedowns topped $1 trillion in the worst financial crisis since the Great Depression and the U.S., Japan and Europe fell into the first simultaneous recessions since World War II.
To contact the reporter on this story: Alexander Ragir in Rio de Janeiro at aragir@bloomberg.net
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