Brazil shares higher at close of trade; Bovespa up 2.48%

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Brazil shares higher at close of trade; Bovespa up 2.48%
Credit: © Reuters. – Brazil equities were higher at the close on Tuesday, as gains in the Financials , Basic Materials and Public Utilities sectors propelled shares higher.

At the close in Sao Paulo, the Bovespa added 2.48%.

The biggest gainers of the session on the Bovespa were Tim Participacoes SA (SA: TIMP3 ), which rose 6.98% or 0.91 points to trade at 13.94 at the close. Gerdau SA Pref (SA: GGBR4 ) added 6.04% or 0.83 points to end at 14.57 and Centrais Eletricas Brasileiras SA (SA: ELET3 ) was up 5.56% or 1.10 points to 20.89 in late trade.

Biggest losers included Multiplan SA (SA: MULT3 ), which lost 2.29% or 1.65 points to trade at 70.30 in late trade. IGUATEMI ON NM (SA: IGTA3 ) declined 1.83% or 0.76 points to end at 40.86 and Fibria Celulose SA (SA: FIBR3 ) shed 1.52% or 0.84 points to 54.31.

Declining stocks outnumbered rising ones by 256 to 182 and 31 ended unchanged on the BM&FBovespa Stock Exchange.

The CBOE Brazil Etf Volatility , which measures the implied volatility of Bovespa options, was up 19.08% to 35.83 a new 1-month high.

In commodities trading, Gold Futures for April delivery was down 0.91% or 12.10 to $1324.40 a troy ounce. Meanwhile, Crude oil for delivery in March fell 0.97% or 0.62 to hit $63.53 a barrel, while the March US coffee C contract rose 2.62% or 3.14 to trade at $122.97 .

USD/BRL was down 0.85% to 3.2348, while EUR/BRL fell 0.79% to 4.0035.

The US Dollar Index Futures was down 0.03% at 89.54.

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