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Name | Symbol | Market | Type |
---|---|---|---|
Petroleo Brasileiro ADR | NYSE:PBR | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.27 | 1.64% | 16.70 | 16.77 | 16.48 | 16.50 | 12,961,836 | 00:21:49 |
By Jeffrey T. Lewis
SAO PAULO--Brazilians shares rose Wednesday, led by iron-miner Vale SA, and the real strengthened against the dollar ahead of the Central Bank of Brazil's interest rate decision.
The Ibovespa stocks index rose 1.8% to 44893 points, its highest close in 2016. The real exited active trading at 3.8884 to the dollar, according to Tullett Prebon via FactSet, after closing at 3.9424 on Tuesday.
Brazil's central bank will announce its decision on interest rates later Wednesday, and is expected to leave its benchmark interest rate unchanged at 14.25%.
Vale's preferred shares jumped 8.1% to 9.99 reais after the company, Australia's BHP Billiton Ltd. and their subsidiary, Samarco Mineração SA, reached a settlement with the Brazilian government over the collapse of a tailings dam operated by Samarco that collapsed in November.
The disaster killed 19 people, left hundreds more homeless and polluted more than 400 miles of rivers in southeast Brazil's Rio Doce basin.
"The agreement eases some of the uncertainty" about the cost to the companies of the cleanup and other damages, said Pedro Paulo Silveira, chief economist at the Nova Futura brokerage in Sao Paulo.
Other big gainers include oil company Petroleo Brasileiro SA, or Petrobras, which rose 6.4% to 5.65 reais, and steelmaker Companhia Siderúrgica Nacional, or CSN, which advanced 4.6% to 5.65 reais.
-Paul Kiernan in Rio de Janeiro contributed to this article.
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Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
March 02, 2016 17:03 ET (22:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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