Petrobras Sinks With Ibovespa as UBS Cuts Profit Outlook by 80%

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  • Analysts see currency decline curbing prospects for company
  • Benchmark stock gauge joins global rout as banks tumble

The outlook for Petroleo Brasileiro SA worsened further after UBS AG cut its earnings projection by 80 percent, spurring a slide in the oil producer at the center of Brazil’s largest graft probe. The Ibovespa followed a selloff in global stocks.

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