Most Brazilian stocks gained as state-run Centrais Eletricas Brasileiras SA led power utilities higher, outweighing a decline by homebuilders before a meeting at which policy makers are expected to boost borrowing costs.
Emerging-market stocks rose for a ninth day after reports showing an increase in U.S. payrolls and factory orders added to confidence the global economy is recovering. Brazil’s Ibovespa erased this year’s drop.
The Ibovespa climbed to a three- week high as state-run companies including oil producer Petroleo Brasileiro SA rallied on speculation a poll will show diminished support for President Dilma Rousseff’s re-election.
The Ibovespa gained for a second straight day as a rebound in iron-ore prices boosted Vale SA, outweighing losses in companies that rely on domestic consumption after data showed Brazilian consumer prices increased more than forecast.
Banco do Brasil SA, Latin America’s largest bank by assets, said profit fell 24 percent, missing analysts’ estimates, as provisions for bad loans and expenses climbed. The shares declined the most in three months.