Brazil stocks higher along with global equities

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SAO PAULO, Aug 13 (Reuters) - Brazilian stocks closed at their highest level in more than a year on Thursday, fueled by generally upbeat economic data at home and global stock gains abroad.

The benchmark Bovespa index .BVSP climbed 0.81 percent to 57,047.98 points -- the highest close since Aug. 6, 2008. The Bovespa has gained nearly 52 percent this year on growing evidence that Latin America's largest economy is on the rebound, with Brazil widely expected to outperform other major economies this year.

The index on Thursday was underpinned by better-than-expected retail sales in Brazil and gains in world stocks, as Germany and France reported a surprise return to economic growth.

U.S. stocks also edged higher as better-than-expected earnings from Wal-Mart Stores Inc (WTM.N) helped offset disappointing government numbers on retail sales and jobs.

"The second-quarter gross domestic product for the euro zone ... sustains the current, more upbeat reading on global economic activity, especially for the second half of the year," said Bradesco in a note.

In Brazil, the government reported June retail sales that rose more than expected, though May numbers were revised down. [ID:nN13224777]

The general optimism also underpinned appetite for the local currency, with Brazil's real putting on 0.11 percent to 1.832 reais. The real has hovered near its strongest levels since September in recent trading.

Also supporting equities, petrochemical maker Braskem (BRKM5.SA), Banco do Brasil (BBAS3.SA) and electricity generator Cesp (CESP6.SA) all recently reported increased second-quarter profits.

Commodity stocks rose as energy and copper prices rallied.

State-controlled energy giant Petrobras (PETR4.SA) rallied 1.88 percent to 32.49 reais in morning trading as oil prices jumped more than 1 percent.

Mining company Vale (VALE5.SA), the world's largest iron ore producer, climbed 2.54 percent to 33.45 reais, as copper prices gained more than 3 percent.

But shares of BM&F Bovespa (BVMF3.SA), the world's fourth-largest exchange operator by market value, sank 2.12 percent to 12.44 reais after Morgan Stanley downgraded its rating to equal-weight from overweight. BM&F Bovespa posted a weaker-than-expected second-quarter profit on Tuesday.

Itau Unibanco (ITUB4.SA) fell 1.22 percent to 33.92 reais. The bank, Latin America's previous largest by assets, reported this week that recurring net income plunged in the second quarter.

Yields on Brazilian interest rate futures contracts <0#DIJ:> continued to slide. The central bank has cut interest rates by 500 basis points so far this year to 8.75 percent. (Reporting by Ana Nicolaci da Costa and Luciana Lopez; Editing by Leslie Adler)