Brazil's stock market made significant gains yesterday (December 10th) after it emerged that governments around the world are considering new measures to boost the global economy.

The Bovespa, Sao Paolo's main stock index, rose by 3.11% and has jumped by over 10% this week, Reuters reports.

With the US government closing in on a deal to rescue its stricken automaking industry, authorities in China also promised fresh measures to boost the struggling economy.

Commenting on developments in the US, investment adviser Luiz Roberto Monteiro said: "The [Bovespa] is rising on expectations surrounding this plan."

Meanwhile, the Brazilian currency real rose by 0.61% against the dollar and leading financial shares also posted substantial gains.

The developments are likely to boost investors in Brazil and people considering a property purchase in the country.

US tycoon Sam Zell recently described the South American nation as one of the best world markets for investment.

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