Brazil-Confidence in JBS-Friboi in the market.

BRAZIL-JBS-FRIBOI SET MARKET ON UPWARD TREND.

Brazilian stocks rose, extending the longest weekly winning streak in almost a year, on speculation efforts by world leaders will help the global economy recover and revive credit markets.

JBS SA, the world’s biggest beef producer, increased its advance this week to 18 percent. Cosan SA Industria e Comercio and Aracruz Celulose SA led gains for sugar and pulp producers. MMX Mineracao e Metalicos SA, which is seeking to sell all or parts of its mining assets, surged 12 percent on speculation the bid may be higher than its market value.

"Foreigners perceive Brazil as a country that will rebound faster if there’s a recovery," said Saulo Sabba, who helps manage the equivalent of $245 million as investment director at Maxima Asset Management in Rio de Janeiro . "The market is anticipating some improvement."

Brazil ’s Bovespa index added 0.8 percent to 44,073.83 at 9:48 a.m. New York time, heading for a 5.2 percent gain this week. Brazilian stocks climbed to the highest in almost six months yesterday as mounting evidence that the global economy is stabilizing spurred a rally in commodity producers.

The Bovespa has advanced 5.1 percent since March 27, the fourth-straight weekly advance. That’s the longest winning streak since the gauge touched a record in May.

Investor confidence has been buoyed by a pledge from the Group of 20 nations yesterday to triple the resources of the International Monetary Fund to $750 billion.