Petrobras, Brazilian stocks rally on Rousseff's woes

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

What S&P downgrade? Brazil equities so far have shrugged it off and are extending gains today, apparently driven by a new poll that shows Pres. Rousseff‘s approval rating fell for the first time since street protests last year and raising the prospect of a change in government later this year.

"There is so much uncertainty in the region with a lot of election or political clout that the market is not discriminating between good and bad companies," says a portfolio manager for the JPMorgan Latin America Fund.

PBR +8.1%, EBR +6.7%, SID +6.2%, GGB +4.1%, BDORY +8.3%.

ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ