Brazil's benchmark Bovespa equities index roared back to life on Friday after tanking almost 3 percent on Thursday as traders bought back into stocks across sectors, seeking bargains amid relative global calm and a solid day on Wall Street.
On Friday, the pattern continued, with the Bovespa climbing 0.58 percent in morning trade, paring gains after rising over 1 percent earlier in the day. That came as Wall Street opened higher, supported by financials and soaring oil prices. The day's gains followed a 2.8 percent rout on the Bovespa on Thursday.
The biggest percentage gainer for much of the morning was rental car company Localiza Rent a Car SA, whose shares popped 4.6 percent after it announced on Thursday night plans to buy back up to 43 million shares.