SAO PAULO: Brazilian stocks rose on Thursday as prices of commodities advanced, with pulp and paper company Suzano Papel e Celulose SA leading gains after fourth-quarter earnings.
Preferred shares in Suzano jumped 3 percent, the biggest gainers on the benchmark Bovespa stock index, on a sharp drop in cash costs for pulp production.
"We believe that Suzano is well positioned to overcome a potential challenging scenario of lower pulp prices and a stronger real," Ita? BBA analysts wrote in a note to clients.
Shares of miner Vale SA and state-controlled oil company Petr?leo Brasileiro SA added the most points to the index, tracking prices of iron ore and crude futures.
Rising commodities also helped support Latin American currencies, with oil-heavy Colombia's peso strengthening the most.
Still, gains were limited by concerns that France's presidential election could drive the country out of the euro zone, which have led global investors to shed risky assets and seek refuge in the US dollar.
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