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SAO PAULO, April 29 (Reuters) - Brazil stocks surged to a seven-month high on Wednesday and the national currency gained as positive corporate results and hopeful comments by the U.S. Federal Reserves buoyed global markets.

Sao Paulo's main stock index .BVSP jumped 3.07 percent to 47,226.79 points, its strongest close since Oct. 1, 2008. Energy giant Petrobras and mining company Vale led the market higher as investors snapped up widely-traded stocks.

Forecast-beating earnings from some European and U.S. companies helped global shares rebound even as data showed the U.S. economy contracted at a steeper-than-expected pace in the first quarter.

"Investors today preferred to look at the glass as half full," said Miguel Daoud, director at Global Financial Advisor.

Brazilian banks were also boosted by optimism in the financial sector abroad, with European banking stocks rallying after Spain's Santander, the euro zone's largest bank, beat first-quarter profit forecasts.

Brazil's currency, the real (BRBY: Quote, Profile, Research), gained 1.1 percent to 2.171 per dollar after the central bank said net dollar inflows totaled $596 million in the April 1-24 period.

The central bank also sold $500 million in dollar repurchase agreements in an auction as part of ongoing efforts to add liquidity to the financial system.

On the stock market, bellwether Petrobras (PETR4.SA: Quote, Profile, Research) rallied 3.2 percent to 29.74 reais, while mining giant Vale (VALE5.SA: Quote, Profile, Research) gained 2 percent to 30.1 reais.