Lula's Oil Plan "Unapprovable", Says Itau Analyst.

BLOOMBERG.
Brasilian President Lula da Silva’s proposal for a new oil law stripping Petrobras investors of $7 billion in a day is “unapprovable,” according to Itau Unibanco.
Paula Kovarsky, a Sao Paulo-based analyst, raised her rating on preferred shares of the state-controlled oil producer and said the company may “strengthen its dominant position” as the plan is held up in Congress.