Brazil moves to dilute unpopular pension reform bill

BRASILIA (Reuters) - Brazilian congressional leaders will meet on Thursday to agree on a watered down version of an unpopular pension reform bill after the government conceded it cannot muster enough support for its proposed belt-tightening.

Brazil's benchmark stock index Bovespa jumped, closing 2.7 percent higher on news of the renewed push to reduce the cost of the country's generous pension system. A day earlier, the index fell to a two-month low after President Michel Temer said the pension bill might not pass this year.