NEW YORK (TheStreet) -- Shares of Banco Bradesco (BBD) - Get Report are gaining by 1.13% to $6.72 on Friday morning, as some U.S. traded Brazil-based stocks rise along with the South American country's benchmark stock index.
The Ibovespa rose by 1.1% to 50,415.39 in Sao Paulo earlier this morning, Bloomberg reports. The index increased its weekly rise to 2.8%.
The rise in metal prices boosted the Ibovespa as investors speculate over the likelihood of an interest rate hike in the U.S. next month.
Weaker than expected U.S. jobs data raised questions about the economy's growth and whether or not it could sustain a rate hike.
Gold prices bounced after the data was released as the non-interest paying asset is looked to as a safe haven in times of economic uncertainty.
Banco Bradesco is a Brazil-based multiple service bank offering a range of banking and financial services products to domestic and worldwide clients.