By Denyse Godoy
The Ibovespa snapped a four-day rout after a voter poll fueled optimism that candidate Aecio Neves has a chance to beat President Dilma Rousseff in the election runoff this weekend.
State-run oil producer Petroleo Brasileiro SA (PETR3) contributed the most to the gauge’s advance on bets that a new government will curtail intervention in state-owned companies. Clothing retailer Lojas Renner SA (LREN3) rallied after profit beat estimates.
The Ibovespa added 1.2 percent to 51,312.88 at 11:15 a.m. in Sao Paulo as 50 of its 70 stocks gained. Brazil’s benchmark stock index had rallied as much as 38 percent from this year’s low on bets Rousseff would be voted out of office after overseeing the slowest growth for any presidency since 1992. The gauge has pared that gain to 14 percent as backing for the incumbent’s re-election bid rose.