July 4, 2013 / 1:36 PM / 4 years ago

Brazil stocks gain 2 pct as bargain-hunters pick up Vale, OGX

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.

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