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STXNEWS LATAM-Brazil stocks rebound on ECB policy talk
July 25, 2012 / 1:24 PM / in 5 years

STXNEWS LATAM-Brazil stocks rebound on ECB policy talk

Brazilian stocks snapped a three-day slide early on Wednesday after ECB policymaker Ewald Nowotny offered cautious backing to the idea of giving Europe’s new permanent rescue fund a banking license. Such a move would enable it to borrow unlimited central bank money, boosting its capacity to prevent the crisis from spreading.

Among stocks rising in Sao Paulo were shares of state-controlled oil company Petrobras and mining giant Vale.

The benchmark Bovespa stock index rose 1.07 percent to 53,201.30 shortly after opening.

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