The Ibovespa rose the most among the world’s biggest stock markets and the real posted its longest stretch of daily gains in four weeks after a poll showed a further drop in support for President Dilma Rousseff.
The Ibovespa declined for a second straight day as homebuilder PDG Realty SA paced losses among companies that depend on domestic demand after economists covering Brazil cut their growth forecasts.
The Ibovespa fell for a second day as Brazilian raw-material producers dropped with commodities on speculation that the U.S. will start reducing monetary stimulus.
The Ibovespa posted its first weekly drop since mid-March as Cia. Hering led a decline among consumer stocks, tumbling to the lowest since 2010 after its quarterly profit trailed analysts’ estimates.
The Ibovespa climbed the most among major equity benchmarks in the Americas as a rally in commodities bolstered Vale SA and economists covering Brazil cut their inflation forecasts.
The Ibovespa rose to the highest level in a week as Centrais Eletricas Brasileiras SA led a rally in state-run companies after a voter poll showed eroding support for President Dilma Rousseff.
"Bad quarterly results from Brazilian companies give a negative tone to the market today."
- Alvaro Bandeira on Jul 30, 2014