NEW YORK (TheStreet) -- Shares of Banco Bradesco (BBD) - Get Report were climbing alongside other Brazil stocks early Thursday afternoon as the Ibovespa posted the largest rally among stock benchmarks in the Americas, Bloomberg reports.
The Ibovespa was rising 1.29% to 57,794 in midday trading.
The rally came after data showed the U.S. economy is on uneven footing, which boosted bets that policymakers will maintain suppressed borrowing costs, Bloomberg noted.
Brazilian shares and emerging-markets stocks and currencies were gaining today after U.S. data and Bank of England policymakers indicated there could be another interest rate decrease this year.
"Speculation that interest rates in developed countries may stay lower for longer is fueling gains on the Ibovespa today, as emerging-market stocks have benefited from foreign inflows in recent months," Paulo Henrique Amantea, an analyst at Guide Investimentos, told Bloomberg.
"With prospects that trading activity will grow, financial companies are attracting the most attention," he added.
Banco Bradesco is an Osasco, Brazil-based commercial bank.