Around the World's Markets: Sao Paulo

RENEWED CURRENCY strength helped Brazilian stocks rise by almost 3 per cent yesterday, with the Bovespa index trading up 256.24 points at 9,740.25.

The real continued to firm following this week's deal with the IMF. By early afternoon, the real was trading at 1.87 to the dollar, well above the psychologically important 2 to the dollar barrier. Investors welcomed news that the Brazilian central bank had been permitted to use up to $8bn until June in foreign currency intervention.