To: Goose94 who wrote (160761 ) 10/10/2009 2:54:40 AM From: elmatador Respond to of 312623 Worldwide what? We are skyrocketing! Brazil Stocks' Climb Continues, Close At 16-Month High RIO DE JANEIRO (Dow Jones)--Brazil stocks ended higher Friday to reach their peak level in 16 months, nudging above a series of recent record highs. Brazil's benchmark Ibovespa stock index ended 0.49%higher at 64,071 points on the Brazilian Stock Exchange, or Bovespa, its highest closing level since late June last year. The consistent rise in Brazilian stocks is due to continuing investor confidence in the local economy, as the South American mammoth pulls firmly away from recession, traders said. Brazil stocks were volatile Friday, and relatively low volume contributed to Ibovespa index oscillations between positive and negative territory early on. Volume was a tad below average at 4.79 billion Brazilian reals ($2.76 billion). Brazilian stocks have gained over 4% so far in October, and more than 70% since the year began. State-run oil giant and bellwether Petroleo Brasileiro S.A., or Petrobras (PBR), sustained the Ibovespa index as oil prices rose. Petrobras shares increased 0.54% to end at BRL35.64. Fellow Bovespa heavyweight, mining colossus Vale S.A. (VALE) also gained, adding 0.41% to close at BRL38.76. Airline stocks outperformed the market Friday. Gol Linhas Aereas Inteligentes SA (GOLL4.BR) jumped by 3.69% to BRL17.69 on news of a code-sharing agreement with Aeromexico, while rival TAM SA (TAMM4.BR) closed up 3.45% to BRL24.00. Both companies are also seen likely to benefit from a recent decision to hold 2016 Olympics in Rio. Real estate developers made the sharpest losses Friday, with Rossi Residencial SA (RSID3.BR) falling 2.21% to BRL13.30. Brazil's financial markets will be closed Monday for a public holiday and will reopen Tuesday. -By John Kolodziejski, Dow Jones Newswires; 55-21-2586-6086; john.kolodziejski@dowjones.com