By Gerald Jeffris
BRASILIA--Brazil's Bovespa stocks index rose in early trading Monday with a lift from improved data abroad and positive performance from heavyweight state controlled oil company Petrobras and key local banks.
As of 8:10 a.m. EST, the main Sao Paulo index was 0.2% higher at 50,1616 points.
Shares prices advanced among many companies on the exchange, taking momentum from an improved mood following a firm rise in activity reported in Europe, where that region's composite PMI rose to 52.1 from 51.7 the previous month.
The signal of a recovery in Europe was seen as a possible boon for the commodities sector, including key metals and mining shares.
Oil heavyweight Petrobras, meanwhile, took a lift from rising global oil prices that reflected in part an impasse over re-opening of oil terminals in Libya.
The local banking sector also advanced, getting momentum from talk that key public bank Banco do Brasil could sell some of its property assets.
In early trading Monday, Petrobras' shares (PETR4.BR) rose 0.8% to 17.15 Brazilian reais ($7.36).
In the mining and steel sector, mining giant Vale (VALE, VALE5.BR) rose 0.1% to BRL34.35, while steelmaker Gerdau (GGB, GGBR4.BR) was up 0.1% to BRL17.90.
Among banks, Banco do Brasil rose 0.5% to BRL24.23, and leading private bank Itau (ITUB4.BR) was up 0.3% to BRL31.05.
Elsewhere, fixed-line telecom Oi (OIBR4.BR) rose 0.6% to BRL3.57, and leading airline Gol (GOLL4.BR) advance 4.0% to BRL9.63.
Write to Gerald Jeffris at firstname.lastname@example.org
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
December 16, 2013 08:32 ET (13:32 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
|Brazil Stocks Little Changed as Utilities Gain, Telecom Falls ()|
|Brazil Stocks Drop as Government Resists Petrobras Price Plan ()|
|Brazil Stocks Close Higher On Gafisa, Petrobras ()|
|ASIA MARKETS: Asia Stocks Lose Early Gains ()|
|Asia stocks lose early gains ()|
|TECH STOCKS: Twitter Reverses Early Slide; Priceline Gains ()|
|Brazil Stocks End Slightly Higher; Vale, Embraer Gain ()|
|H-P, Twitter gain as tech stocks rise early ()|
|U.S. Stocks Erase Early Gains ()|
|UPDATE: Twitter reverses early slide; Priceline gains ()|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.