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Brazil's Bovespa index jumps 3 pct on metals, oil

Wed Aug 20, 2008 2:59pm EDT
 
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SAO PAULO, Aug 20 (Reuters) - Brazil's benchmark stock index rose more than 3 percent on Wednesday as rising crude and industrial metals prices boosted shares of state-controlled Petrobras, mining giant Vale and local steelmakers.

The Bovespa index .BVSP of the Sao Paulo stock exchange jumped to 55,360.44 points from Tuesday's close of 53,638.69 points. Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz) led the market higher with a 5.2 percent gain, while Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz) was up 6.6 percent.

(Reporting by Elzio Barreto)

 

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