Brazilian stocks rose on Tuesday, as gains in steel and mining companies offset drops in energy and retail shares. The benchmark Bovespa stock index added 0.25 percent to 70,792.40, a day after its worst tumble in more than three weeks. The index had spent much of the day in the red. Steelmaker Usiminas led gains, rising 2.11 percent to 61.83 reais.
The company said on Monday that Chairman Wilson Brumer will take over as chief executive from the end of April. Mining company MMX put on 4.67 percent to 13.90 reais. Mining giant Vale added 0.39 percent to 50.95 reais, its 10th session of gains out of the previous 12 on the expectation of higher iron ore prices.