Brazil stocks gain, currency falls for 7th session

SAO PAULO, Aug 12 (Reuters) - Brazil's stock market rose in early trading on Tuesday as investors saw value in oil company Petrobras and jet-maker Embraer, while the country's currency eased for a seventh straight session.

Airlines TAM and Gol rose after reporting second-quarter results before the market opened.

The Bovespa index .BVSP of the Sao Paulo stock exchange rose 0.94 percent to 55,235.90 after briefly dipping into negative territory. In the three previous sessions, the index had lost 4.9 percent.

Brazil's currency, the real BRBY, lost 0.37 percent to 1.62 per U.S. dollar, heading for its seventh straight session of losses. Traders said foreign investors in Brazil continued to purchase dollars amid global market uncertainty.

Vale (VALE5.SA: Quote, Profile, Research), the second-heaviest weighted stock in the Bovespa, rose 0.66 percent to 34.84 reais.

Steel companies led by CSN and Gerdau fell for a second consecutive day on expectations that weaker metals demand could prevent aggressive price hikes next year.

Gerdau (GGBR4.SA: Quote, Profile, Research) fell 1.76 percent to 28.40 reais, while CSN (CSNA3.SA: Quote, Profile, Research) dropped 1.47 percent to 52.15 reais and Usiminas (USIM5.SA: Quote, Profile, Research) lost 1.51 percent to 56.78 reais.

"It's a global trend linked to expectations of weak metals demand," said Archibaldo Pereira de Mello Neto, investment consultant with brokers Novinvest in Sao Paulo.

Jet manufacturer Embraer (EMBR3.SA: Quote, Profile, Research) gained 4.32 percent to 12.57 reais as investors moved out of more volatile companies linked to global commodity price fluctuations.