Brazil's Bovespa hits 50,000, 1st time since Sept

Mon May 4, 2009 3:15pm EDT
SAO PAULO, May 4 (Reuters) - Brazil's benchmark stock index hit the 50,000 mark for the first time since late September on Monday as a rally in oil, copper and other commodities fueled shares of Petrobras, Vale and local steelmakers.
The Bovespa index .BVSP jumped 5.76 percent to 50,015.39, extending a rally that has pushed it 9.15 percent higher over four straight sessions. It last reached the 50,000 mark on Sept. 29.
State-run energy company Petrobras (PETR4.SA) led the market higher, gaining 6.1 percent as crude oil prices CLc1 climbed 2.2 percent in New York.
Mining giant Vale (VALE5.SA) jumped 7 percent, benefiting from gains in copper prices, while higher metals prices pushed shares of steelmakers CSN (CSNA3.SA) and Gerdau (GGBR4.SA) up 6.6 percent and 8.3 percent respectively. (Reporting by Elzio Barreto; Editing by Dan Grebler)