Brazil stocks firm after early seesawing, real up

(Updates to close)

SAO PAULO, Nov 13 (Reuters) - Brazilian stocks closed higher on Friday after a see-saw session, with investors giving more weight to strong corporate results than to mixed economic signals.

The benchmark Bovespa index .BVSP ended the day 1.36 percent higher at 65,325.63, a day after profit-taking pulled the index almost 3 percent lower.

Brazil's currency, the real (BRBY), strengthened 0.98 percent to 1.722 per U.S. dollar.

"The company results were really good," said Andre Perfeito, an economist with Gradual Investimentos. "That's what wound up moving things higher today."

Shares of Brazilian real estate developer Cyrela (CYRE3.SA) jumped 6.28 percent to 24.55 reais on Friday after it posted a record third-quarter profit.

In the United States, media giant Walt Disney (DIS.N) beat analysts' expectations, while retailer JC Penney Co Inc (JCP.N) said its holiday quarter earnings could beat estimates.

Because the United States is the world's largest economy, Brazilian investors often look to those markets to gauge investor sentiment and risk appetite.

However, international macroeconomic data on Friday painted a mixed picture of a global economic recovery, fueling the early volatility among Brazilian stocks.

The euro zone returned to growth in the third quarter, though not as strongly as expected. For more see [ID:nLD681404]. Consumer sentiment in the United States fell in early November as well.

On the Brazilian stock exchange, mining company Vale (VALE5.SA), the world's largest producer of iron ore, pulled the index higher with an increase of 1.23 percent to 41.10 reais.

"We continue to be bullish on iron ore and expect prices to go up by at least 30 percent in 2 years," said a report from Bank of America Merrill Lynch dated Thursday.

State-controlled energy company Petrobras (PETR4.SA) gained 0.76 percent to 37.13 reais.

Petrobras is expected to post a third-quarter slump in profits after the bell on Friday. The stock is the most heavily-weighted in the index.

Limiting gains was Brasil Foods (PRGA3.SA), which sank 4.18 percent to 42.15 reais. The company posted third-quarter results late on Thursday, with net income advancing on financial gains. [ID:nN12424321]

An Itau Securities report pulled no punches: "Brasil Foods' third-quarter results -- for the first time fully reflecting the merger of Sadia and Perdigao -- were quite dreadful ..."