Brazil stocks higher at close of trade; Bovespa up 1.20%

Brazilian equities closed higher on Tuesday, with gains in the Financials, Public Utilities and Electric Power sectors leading the advance.

By the close in Sao Paulo, the Bovespa index added 1.20%, reaching a fresh three-month high.

The session's top performers on the Bovespa included MRV Engenharia e Participacoes SA (BVMF:MRVE3), which climbed 4.68% or 0.26 points to finish at 5.80. Companhia Siderurgica Nacional (BVMF:CSNA3) rose 4.09% or 0.26 points to close at 6.62, while Energy of Minas Gerais Co Preferred (BVMF:CMIG4) advanced 3.91% or 0.44 points to 11.66 in late trading.

The worst performers of the session were Azzas 2154 SA (BVMF:AZZA3), which slid 3.62% or 0.64 points to 17.05 at the close. Vivara Participacoes SA (BVMF:VIVA3) fell 1.43% or 0.33 points to end at 22.88, and Porto Seguro SA (BVMF:PSSA3) declined 0.99% or 0.51 points to 51.20.

Declining issues outnumbered advancing ones on the B3 Stock Exchange by 550 to 442, with 46 stocks ending unchanged.

The CBOE Brazil ETF Volatility index, which gauges implied volatility of Bovespa options, fell 1.78% to 36.90.

Gold futures for December delivery dropped 1.67% or $74.60 to $4,402.00 per troy ounce. In other commodities, crude oil for October delivery rose 2.94% or $2.69 to $94.17 a barrel, while the December US coffee C contract declined 1.91% or $5.65 to $289.95.

USD/BRL slipped 0.76% to 5.09, while EUR/BRL decreased 0.81% to 5.91.

The US Dollar Index Futures were down 0.30% at 98.86.