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Article: Brazil : Bovespa Futures Gain on Commodity Advance, Petrobras Oil Find.
- Article from:
- TendersInfo
- Article date:
- August 22, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Brazilian stock futures advanced, indicating the gauge may climb for a third week, after commodity prices rose and Petroleo Brasileiro SA said it discovered more oil.
Petrobras, as Brazil s state-controlled oil company is known, jumped 2 percent in U.S. trading after saying preliminary analysis indicates the presence of 280 million barrels of recoverable light oil in its offshore Campos Basin. OGX Petroleo e Gas Participacoes SA, the oil company controlled by billionaire Eike Batista, may advance as Itau Unibanco Holding SA said its oil concessions are pretty near to Petrobras oil discovery. Vale SA rose more than 1 percent after the ...