|Bid||39.31 x 100|
|Ask||39.80 x 100|
|Day's Range||39.22 - 39.93|
|52 Week Range||31.04 - 40.80|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.63%|
Correction: This post and headline were updated to reflect the correct spelling of Eletrobras, the shorthand name for Centrais Electricas Brasileiras. Shares of power utility Centrais Eletricas Brasileiras (EBR and ELET3.Brazil) rose 25% in Sao Paulo trading Tuesday and 36% in the U.S. after the Brazilian government said would reduce its controlling stake. Brazil stocks are getting a big lift today.
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While the Brazilian government bumped up its deficit target late Tuesday to 159 billion reais ($50.4 billion) for both 2017 and 2018, it is promising spending cuts and some revenue boosters that are likely to get approval despite the country's ongoing political chaos, Eurasia Group says. The previous deficit target was 139 billion reais. The Brazilian real strengthened by 0.7% against the U.S. dollar and the iShares MSCI Brazil Capped exchange-traded fund (EWZ) tempered gains at the close, with a rise of 1.3% Wednesday just ahead of the Vanguard FTSE Emerging Markets ETF (VWO), up 1.1%. Shares of Brasil's Banco Bradesco (BBDO) rallied 4.5%, iron ore mining giant Vale (VALE) rose 3%, and meat producer BRF (BRFS) fell 1%.