Brazil Stocks Gain

The Ibovespa headed for its third consecutive weekly gain as raw-materials producers rallied, Bloomberg reported. A gauge of commodities producers was the best-performing sector on the MSCI Brazil Index as iron-ore miner Vale SA and steelmaker Gerdau SA both climbed to the highest price since May 2015. Companies that get a significant part of their revenue from abroad, including meatpacker Marfrig Global Foods SA, rose as the real weakened. This week’s gain pushed the advance this year to 85% in dollar terms, the best in the world, amid optimism that the government will be able to pull the country out of its worst recession in more than a century.