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São Paulo, 10 - Brazilian stocks continued stronger Monday afternoon, boosted by the positive sentiment produced after the Eurozone bailout plan for fiscally troubled nations announced late Sunday.

The €750 billion rescue package €500 billion from the European and €250 billion from the International Monetary Fund intends to stabilize the Euro and prevent the Greek debt crisis from spreading to other member countries. At the same time, the European Central Bank confirmed it will buy bonds in the secondary market in order to ensure market stability.

The package restored market confidence by reducing the odds of default in Greece and other European economies.

At 2.48 pm local time/17.48 GMT, the main Brazilian index of blue chips, the Ibovespa, was up 3.99% at 65,377.08 points, with short traders squaring out their portfolio after last weeks sell-off, when the gauge accumulated losses of 6.90% amid strong trading volume.

The largest cap in the index, preferred shares in oil company Petrobras gained 1.95% to R$ 30.33, while mining giant Vale gained 4.68% to R$ 45.17, both boosted by higher commodity prices.

The session main winners were common shares in realtor MRV Engenharia, up 9.13% at R$ 11.600, in a technical adjustment after a bearish Friday. The company Thursday evening reported a R$ 115.872 million ($1 = R$ 1.78) net profit in the first quarter, up 136.4% when compared to the same period a year ago.

In the same comparison, the Ebitda increased 147.4% to R$ 149.613 million, while the Ebitda margin advanced to 26.3% from 22.2% a year-earlier. Ebitda is earnings before tax, interest, depreciation and amortization. The companys net revenue rose 108.7% to R$ 568.545 million.

Common shares in Brazilian wood products and sanitary ware maker Duratex S/A gained 3.88% to trade at R$ 15.53. The company on Monday posted a first-quarter net profit of R$ 80.63 million ($45.3 million), 51.2% bigger than year-earlier earnings of R$ 53.3 million.

Net revenue stood at R$ 606.58 million in the quarter, up 17.8% on the year.

Ebitda rose 46.4%, to R$ 196.1 million, with the companys Ebitda margin improving to 32.3% from 26%.

Off the index, common shares in Brazils largest consumer goods company Hypermarcas S/A surged 9.77% to R$ 23.93. The company reported a first-quarter net profit of R$ 62.1 million ($33.6 million), 18.7% lower than in the same period last year.

Ebitda, on the other hand, grew by 75% in the period to hit R$ 178.8 million ($1 = R$ 1.85), with the companys Ebitda margin advancing 0.7 of a percentage point to 27.2%.

Equivalent shares in meatpacker Minerva S/A, the countrys third-largest beef exporter, were up 2.56% to R$ 6.41. The company said Monday it had first-quarter net losses of R$ 23.2 million ($12.5 million), in contrast to a R$ 1 million profit in the same period last year.

In its quarterly report, Minerva attributed the weak performance to forex fluctuations, given that 74.5% of its loans were pegged to foreign currencies at the end of March. ( Beth Moreira, with editing by Paula Puliti )