Wed, Apr. 1, 2:25 PM
- Petrobras (PBR +7%) and other Brazilian stocks post strong gains in reaction to Pres. Rousseff's declaration that her government will do whatever it takes for the country to meet its fiscal target this year.
- Rousseff says PBR may release its audited results by the end of the month, and issues a strong denial that she knew about the bribery that has shaken the company she chaired during 2003-10.
- Also: PBR.A +6.5%, EBR +6.6% EBR.B +9%, ELP +6%, CIG +4.9%, CPL +3%, SBS +4.9%, BSBR +5%, BBD +4.5%, ITUB +3.9%; however, with continued negative headlines on iron ore prices, VALE -1.9%.
- ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
Fri, Mar. 27, 6:34 AM
Tue, Jan. 20, 5:49 PM
- Monday’s massive blackout is raising concerns that electricity rationing may hit Brazil this year, dealing a major blow to the country’s already fragile economy.
- Critics say the government's unwillingness to take politically unpopular actions, such as raising water rates and enforcing strict conservation, has made a bad situation worse.
- The blackouts also caused some economists to revisit their forecasts; the chief economist at Banco Votorantim in São Paulo projects Brazil’s economy to grow just 0.1% this year, with even that figure too optimistic if electricity rationing occurs.
- Relevant tickers: EWZ, CIG, CPL, EBR, ELP, BRZU, BZQ, UBR, DBBR, FBZ
Tue, Jan. 20, 9:16 AM
Nov. 14, 2014, 9:29 AM
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Feb. 18, 2014, 9:13 AM
Mar. 20, 2013, 10:43 AMCia. Energetica de Minas Gerais (CIG -12.2%) and shares of other Brazilian utilities are under pressure on expectations for Brazil's regulator to curb electricity rate increases Cemig had planned to put in place in April. Shares also were downgraded yesterday at Standpoint Research. Also: ELP -3.7%, CPL -3.4%, EBR -2.4%. | 1 Comment
Nov. 30, 2012, 8:11 AMElectrobras (EBR) +22.2% premarket after Brazil's government offers an additional 9.87B reais ($4.7B) to utilities that accept Pres. Rousseff’s plan to renew electricity license with lower rates, on top of 20.04B reais announced Nov. 1. EBR preferred shares lead the Bovespa index, up 28%. ELP +4.1%, CIG +2.6%, CPL +1.2% premarket. | Comment!
Sep. 12, 2012, 3:10 PMShares of Brazilian electric utilities plunge a day after the country announced a major cut in electricity taxes that will lower energy costs for industries and consumers. UBS says the “stock-price declines on regulatory noise seem exaggerated,” presenting buying opportunities. CIG -20.8%, ELP -8.9%, EBR -7.9%, CPL -3.7%. | 3 Comments
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