Brazil's Ibovespa jumped 3.05% to 185,205 on September 2 as the real strengthened to near 5.09 per dollar. Banks, Vale and retail names led the rally.
Key Facts
The Ibovespa, Brazil’s main stock index, closed at 185,205 points, a gain of 3.05% on the session and its best day in months.
The real, Brazil’s currency, strengthened 1.25%, with one US dollar falling to 5.0912 reais.
Banks and Petrobras did the heavy lifting, with Itaú Unibanco up 3.8% and Banco do Brasil up 5.0% among the most-traded names.
Retail darling Magalu soared 16.9%, the standout gainer on the Brazilian stock exchange after news of a partnership with Mercado Livre.
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