|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||6.75 - 6.95|
|52 Week Range||3.49 - 7.70|
|PE Ratio (TTM)||-8.18|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Brazil's state-run oil company Petroleo Brasileiro SA will inject 6.3 billion reais ($2 billion) of fresh capital into its fuel distribution arm, cleaning up its balance sheet in an effort to attract investors to an initial public offering. The money from the capital injection, approved by the board of the company and announced in a securities filing on Friday, will solve a long-standing problem with state-controlled power utility Centrais Eletricas Brasileiras SA. The capital injection solves the main hurdle to the initial public offering of the unit, Petrobras Distribuidora SA, according to a person with direct knowledge of the matter.
The Brazilian government's plan to privatize power holding company Centrais Eletricas Brasileiras SA will not lead to an increase in electricity prices, Mining and Energy Minister Fernando Coelho Filho ...
Brazil stocks climbed to a new 52-week high after the Brazilian government said it would reduce its controlling stake in Centrais Eletricas Brasileiras (EBR) or Eletrobras, a state-controlled utility company. The $6.3 billion iShares MSCI Brazil Capped ETF (EWZ), which tracks an index of 58 stocks, gained 1.9% on Wednesday and climbed to the top of the ETF heap. Brazil stocks could have more upside.