Brazil stocks, real jump on China stimulus hopes

SAO PAULO, March 4 (Reuters) - Brazil's currency gained and stocks jumped more than 4 percent on Wednesday as expectations of a recovery in China's economy fueled a jump in prices of crude oil, copper and other commodities.

The Bovespa index .BVSP of the Sao Paulo stock exchange rose 4.15 percent to 37,981.5 points, up for a second session. Market bellwethers Petrobras and Vale surged as crude oil rallied 7 percent, while copper prices gained to a three-month high.

A senior economic planning official in China said the country will increase spending on infrastructure on top of a massive stimulus plan announced in November. The measure also helped fuel shares of local steelmakers CSN, Usiminas and Gerdau.

"It looks like the stimulus measures in China are working," said Vladimir Caramaschi, chief economist at Credit Agricole in Sao Paulo.

Brazil's real (BRBY: Quote, Profile, Research) strengthened 1.1 percent to 2.384 per U.S. dollar as the rally in global stocks increased investors' appetite for emerging market securities.

Interest rate futures <0#DIJ:> on the BM&F commodities and futures exchange rose, tracking the jump in stock and currency markets.

At the stock exchange, state-run energy giant Petrobras (PETR4.SA: Quote, Profile, Research) jumped 6 percent to 26.29 reais as crude oil CLc1 soared more than 7 percent in New York.

Vale (VALE5.SA: Quote, Profile, Research), the world's largest iron ore miner, gained 7.7 percent to 27.8 reais as prices of copper rose to a three-month high.

Steelmaker CSN (CSNA3.SA: Quote, Profile, Research) climbed 5.3 percent to 32.11 reais, adding to a 4.85 percent gain the previous session, while Usiminas (USIM5.SA: Quote, Profile, Research) was up 6.2 percent at 26.12 reais and Gerdau (GGBR4.SA: Quote, Profile, Research) rose 4.6 percent to 12.57 reais.