The Bovespa index of the Sao Paulo Stock Exchange rose 2.19 percent to 24,035 points on Friday. Stocks were also lifted by rising New York bourses and a stronger real, which should help limit inflationary pressures. Among individual stocks, state-run oil giant Petrobras rose 0.26 percent to 95.80 reais after reporting a third-quarter profit. Jetmaker Embraer rose 0.99 percent to 20.35 reais ahead of quarterly results next week and news of a $200 million order for its Chinese joint venture. Bellwether Tele Norte Leste Participacoes rose 2.36 percent to 39.05 reais.
"Inflows are positive and foreigners are betting big on Brazil," Jorge Kattar, head of derivatives at the Rabobank brokerage, said.
Signs Congress may soon pass a stalled bill that would encourage domestic and foreign companies to invest in key public infrastructure projects buoyed the currency and especially helped stocks.
Congressional leaders say a deal was struck with members of the opposition to pass the bill, which is designed to lure foreign direct investment to Brazil's ailing transport systems by crafting public-private partnerships.
The bill may pass key committees as early as Wednesday before heading to a floor vote. Economists say that poor infrastructure threatens to derail long-term growth here.
Despite the good news, the strong rallies left some people unhappy.
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