Brazil's stock market rose on Friday led by blue chips CVRD and Petrobras as oil and commodities prices gained. The Bovespa index of the Sao Paulo Stock Exchange rose 0.52 percent to 60,970.9 points. Local stocks were also helped by higher stocks on Wall Street, where the Dow Jones industrial average jumped 1.4 percent and the Nasdaq Composite Index was 1.3 percent higher.
Trading in the stock markets was lower than usual because of the US Thanksgiving holiday on Thursday that also reduced business hours on Friday. Iron ore miner CVRD rose 0.82 percent to 49.4 reais as copper prices gained nearly 2 percent on bargain hunting and other metals were also mostly higher.
CVRD said on Friday it delayed some iron ore shipments from two Brazilian ports due to heavy rains and a railroad blockage earlier this month by landless peasants.
State-owned oil company Petrobras, the most heavily weighted stock in the index, rose 0.46 percent to 76.5 reais as crude prices rose more than 1 percent in New York and settled at a record above $98 a barrel.
Brazil's real weakened 1.4 percent to 1.805 per US dollar, closing beyond the 1.8-per-dollar mark for the first time in a month. The currency fell after a purchase of dollars in the foreign exchange futures market that a trader at a local brokerage estimated at around $300 million. The real had been trading near its strongest level in seven and a half years for weeks before slumping in recent days on concerns over the US economy.
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