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Tue, Oct. 7, 2:22 PM
- Petrobras (PBR +7.1%) and other Brazilian stocks continue to climb higher after Sunday's presidential election resulted in pro-business candidate Aeceo Neves showing surprising strength in making the runoff against incumbent Pres. Rousseff.
- Also: CIG +9.3%, EBR.B +3.9%, ELP +3.2%, EWZ +2.4%, BBD +2%, VALE +1.8%, ITUB +1.8%.
- Separately, PBR says its latest well in the Brigadeiro discovery evaluation plan area has confirmed the presence of good quality oil in the ultradeep waters of the Espirito Santo Basin post-salt deposits.
- PBR, with an 89.9% stake, is the operator of the consortium developing the project.
Dec. 23, 2011, 1:59 AMChina Three Gorges is buying Portugal's 21% stake in utility EDP (EDPFY.PK) for €2.7B ($3.5B), beating out E.On (EONGY.PK) and Eletrobras (EBR). The deal also includes Chinese investment in the wider economy, and is a crucial indicator of Portugal's ability to sell state assets in the face of its debt crisis. | Comment!
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