Brazil stocks up 2nd day in a row on banking news

SAO PAULO (AP) - Brazilian stocks are up for the second day in a row as investors around the world continue cheering news that Citigroup Inc. made money in January and February.

Brazil's Ibovespa index was up 0.7% to 39,081 during the first 30 minutes of trading after finishing up 5.6% in the previous session. The country's currency, the real, rose against the dollar.

Wednesday's gains tracked advances for markets in Europe and Asia.

Investors ignored speculation that Brazil may be heading into a technical recession after the government said fourth quarter growth last year fell 3.6% compared to the previous quarter.

Citigroup's chief executive said in a memo that the troubled bank had a good start in 2009.

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