Most Brazilian stocks dropped after a report showing U.S. companies added more workers than forecast rekindled speculation that the Federal Reserve will soon reduce stimulus that has boosted emerging-market assets.
The Ibovespa rose for the first time in five sessions, with developer BR Properties SA leading gains, amid speculation the Brazilian benchmark’s longest losing streak in six weeks may have been excessive.
Ibovespa futures fluctuated, after the Brazilian stock index posted back-to-back gains, as data showing car sales increased in China boosted metal prices while OGX Petroleo e Gas Participacoes SA reported a drop in output.
The Ibovespa approached a bull market as better-than-forecast economic data in China boosted Brazilian commodity exporters including iron-ore producer Vale SA, outweighing a plunge by OGX Petroleo e Gas Participacoes SA.
The Ibovespa fell for the sixth time in seven sessions as retailers including Lojas Renner SA sank after growth in the industrial sector trailed estimates, rekindling concern that Brazil’s economy is faltering.
Emerging-market stocks rose for a seventh day, led by gains in Mexico, Russia and Turkey, after comments by Federal Reserve Chairman Ben S. Bernanke alleviated concern that the central bank will curtail its stimulus program.