The Ibovespa advanced for a second straight day as Banco do Brasil SA and Petroleo Brasileiro SA rose on speculation the next Ibope election poll will show reduced support for President Dilma Rousseff’s government.
Brazil may see a mass migration of crops and farm workers from huge swaths of currently tillable lands to more temperate zones as global warming takes hold, according to leading climate experts in the country.
Coffee futures dropped the most in more than three weeks as a forecast for showers boosted prospects for crops damaged by the worst drought in decades in Brazil, the world’s biggest grower and exporter.
The Ibovespa fell the most among major stock gauges in the Americas as exporters including iron- ore producer Vale SA tumbled after data showed a decline in a measure of new credit in China, Brazil’s top trading partner.
Usinas Siderurgicas de Minas Gerais SA, Brazil’s second-largest steelmaker, fell the most in almost two months after the country’s antitrust regulator ordered Cia. Siderurgica Nacional SA to reduce its stake in Usiminas.