Petrobras Slumps as Quarterly Profit Misses Estimates: Rio Mover
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Petroleo Brasileiro SA, Latin America’s largest oil producer by market value, plunged the most in six months after quarterly profit missed estimates.
Petrobras fell 6.7 percent to 23.80 reais at 1:38 p.m. in Sao Paulo, the worst performer in the benchmark Bovespa index. It earlier fell as much as 6.9 percent, the most since Aug. 8.