Brazil Stocks Set To End Year Higher
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The Ibovespa rose nearly 1% to trade near 162,000 on Tuesday, as investors digested domestic data in the final session of the year.Brazil’s unemployment rate stood at 5.2% in the three months through November, slightly below forecasts of 5.4%.Petrobras gained 0.5% on higher oil prices, while Vale rose 0.9% despite lower iron ore prices.Banking stocks advanced, with Itaú up 0.8% and Bradesco gaining 0.5%.Utilities also traded higher, led by Aegea up 0.5%.Meanwhile, confidence in Brazil’s services sector rose for a second consecutive month in December, increasing 0.5 point to 90.6.
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