The Ibovespa index of the Brazilian stock market rose by 0.41 percent on Friday to end the week at 76,977.68 points, it highest in history, after figures indicating an increase in Chinese imports last month buoyed commodity prices, RTTNews reports, citing the assessment of an analyst.
“China’s trade balance surprised, and came in very strong. Iron ore prices were up 4 percent,” the news agency quotes Magliano Corretora analyst Pedro Galdi as saying.
“Data regarding iron ore consumption in September showed that China is increasing its inventories for the winter. That was very good for Vale’s shares,” RTTNews quotes Mr Galdi as saying.
