BTG Profit Doubles on Commodities Expansion, Shares Climb

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  • Revenue from sales and trading seen as `abnormally high'
  • Esteves says bet on Brazil's oil industry was bad strategy

Grupo BTG Pactual, the only publicly traded investment bank based in Brazil, said profit almost doubled, beating analysts’ estimates, on higher revenue from the commodities and currencies business. The company’s shares jumped as much as 4.3 percent.

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