March 6, 2013 / 5:56 PM / 4 years ago

Brazil's Bovespa rises 2 percent on Petrobras announcement

SAO PAULO, March 6 (Reuters) - Brazil's benchmark Bovespa stock index gained 2 percent on Wednesday, the day after state-led oil company Petroleo Brasileiro SA announced a surprise 5 percent rise in diesel fuel prices that will help the firm tackle cash flow problems.

Preferred shares of, the most common traded class of stock, led gains and were up 6.4 percent while common shares jumped 12 percent. Miner Vale, the country's biggest diesel user, rose 2.19 percent.

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