Brazil stocks rise to record, real falls on c.bank

SAO PAULO, Oct 8 (Reuters) - Brazil's stock market rose to a record on Monday and the local currency fell for the first time in three sessions after the central bank intervened in the spot currency market after a two-month hiatus.

The Bovespa index .BVSP of the Sao Paulo Stock Exchange rose 0.55 percent to 62,660.85 points, passing a previous record close of 62,340.34 set on Oct. 1. The index has gained nearly 41 percent so far in 2007.

Brazil's currency, the real BRBY, lost 0.83 percent to 1.819 per U.S. dollar, after closing on Friday at its strongest level since August 2000.

Petrochemical giant Braskem said it brought into the country about 1 billion reais ($549 million) from an overseas unit to pay for its takeover of Copesul. Traders said the inflows from Braskem and other transactions prompted the central bank to call the auction on an unusually quiet day in the market due to the Columbus Day holiday in the United States.

The bank bought dollars on the spot foreign-exchange market for the first time since Aug. 13, soaking up a flood of greenbacks to the country that has pushed the real 17 percent higher this year. More central bank interventions could take place as dollar inflows from bond sales and foreign investment into stocks grow, traders said.

"The trend is for the central bank to resume its purchases as usual, acting in the spot market and boosting international reserves," said Marcos Forgione, an analyst at Hencorp Commcor brokerage.

Finance Minister Guido Mantega said on Monday the central bank's intervention was probably a sign of excessive liquidity in the markets and that more auctions could take place going forward.

"If there are dollars left over in international markets and there is some pressure (on Brazil's currency), the central bank should promote more auctions to soak up excess dollars," Mantega told reporters in Rio de Janeiro.

Interest-rate futures <0#DIJ:> on the BM&F commodities and futures exchange in Sao Paulo closed slightly higher on thin trading because of the U.S. holiday.

At the Bovespa. state-run oil giant Petrobras (PETR4.SA), the heaviest-weighted stock in the Bovespa index, rose 1.13 percent to 61.84 reais.

Aircraft manufacturer Embraer (EMBR3.SA) surged 5.24 percent to 22.89 reais. On Friday, Embraer said it delivered 47 jets in the third quarter, up from just 30 in the year-earlier period.

Low-cost airline Gol Linhas Aereas Inteligentes (GOLL4.SA) gained 3.47 percent to 44.7 reais. Raymond James raised its recommendation for Gol shares to "outperform" from "market perform." Credit Suisse in a report also reiterated an "outperform" rating for Gol shares, saying a downward revision of profit and revenue estimates on Friday was expected and that airline stocks should rebound as air travel picks up in September.

Shares of bank Cruzeiro do Sul (CZRS4.SA) jumped 5.82 percent to 17.99 and meat processor Perdigao (PRGA3.SA) rose 1.77 percent to 42.49 reais. UBS Pactual said in a report it added Cruzeiro do Sul and Perdigao to its global emerging markets top 30 list.