Brazil stocks gain 2 pct as bargain-hunters pick up Vale, OGX
SAO PAULO, July 4
SAO PAULO, July 4 (Reuters) - Brazil's benchmark Bovespa stock index gained 2 percent on Thursday, as investors snapped up cheap shares of mining firm Vale SA and oil producer OGX Petroleo e Gas Participacoes SA following recent losses in the stocks.
Vale said late Wednesday that it received a license from Brazil's Environmental Protection Agency to build a $19.5 billion expansion to its giant Carajas iron ore mining project, while OGX on Thursday posted a 26 percent increase in oil production for June.
At 10:27 a.m. (1327 GMT), the Bovespa was up 2.05 percent to 45,967.24.
- Malaysia military tracked missing plane to west coast: source |
- Malaysia air probe finds scant evidence of attack: sources |
- Ukraine forms new defense force, seeks Western help |
- Freescale loss in Malaysia tragedy leads to travel policy questions
- Front companies, embassies mask North Korean weapons trade - U.N