Brazil’s Ibovespa closed 0.3% higher at 175,665 on Friday, recovering from earlier losses and extending its advance to eight consecutive sessions. The move came as July formal-job creation slowed to 58,568, well below the 112,000 forecast and down from 145,161 in June. Producer-price inflation, measured by the PPI (Producer Price Index), eased to 1.94% year-on-year from 2.47% in June, while the IGP-M (Brazilian general price index) fell. The softer labor and inflation readings could give the BCB (Brazil’s central bank) room to maintain its 25-basis-point easing cycle, potentially supporting credit-sensitive shares. Financial stocks rose, while B3 gained 2% after JPMorgan said emerging-market equity funds saw stronger inflows and Brazil recovered following four weeks of heavy outflows. Axia and Petrobras also advanced, with Petrobras benefiting after Bradesco BBI upgraded the stock to Outperform from Neutral. Vale declined after a trial over taxation of profits from its foreign subsidiaries was suspended.