Brazilian stocks soared Thursday on optimism over the U.S. plan to bail out troubled financial institution, a move that investors believe could prevent a global economic slowdown.Sao Paulo's Ibovespa index rose 4 percent to 51,828, the second day in a row that it finished in positive territory. Brazil's currency, the real, ended Thursday up 1.6 percent against the U.S. dollar.
Key U.S. lawmakers agreed Thursday on a multibillion-dollar bailout plan for Wall Street aimed at staving off a U.S. economic catastrophe that would send economic shockwaves around the world and hurt Brazil's economy, Latin America's largest.
The Ibovespa closed up 0.5 percent Wednesday following sharp losses during the two previous sessions as investors dumped emerging market shares in favor of investments considered less risky.
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