Brazil’s Ibovespa Snaps Three-Day Drop as Petrobras Gains
This article is for subscribers only.
The Ibovespa snapped a three-day decline as oil company Petroleo Brasileiro SA rose on wagers its losses from gasoline sales will narrow.
The 3.3 percent advance in shares of Petrobras, as the state-controlled producer is known, contributed the most to the gauge’s gains today. For-profit college operator Gaec Anima Educacao SA jumped the most on record after agreeing to buy Universidade Sao Judas Tadeu for 320 million reais. The water utility known as Sabesp dropped as state regulators canceled a rate review.