Brazil’s Bovespa Rises to Highest in Month on Stimulus, Rates

By Allen Wan

Feb. 4 (Bloomberg) -- Brazil’s Bovespa index rose to the highest in almost a month as the prospect of interest-rate cuts and global economic stimulus spurred gains for homebuilders and commodity producers.

The Bovespa gained 1.3 percent to 40,255.32 at 8:37 a.m. New York time.

Brazil will increase spending on roads, power dams and other infrastructure projects by 142 billion reais ($61.5 billion), to 646 billion reais, to fuel growth, the government said today. Steelmaker Gerdau SA advanced to the highest in two weeks, adding 3.3 percent to 16.10 reais.

To contact the reporter on this story: Allen Wan in New York at awan3@bloomberg.net