BLOOMBERG/ Petrobras CEO Jose Sergio Gabrielli may consider a delay selling as much as $25 billion in shares if global equity markets worsen. Petrobras has dropped 15% this month to the lowest level since March 2009. The biggest share sale in the Western Hemisphere in at least a decade had been planned for late July or early August.
There is more bad news for Brasil as its real fell for a sixth day to $1.895, the longest losing streak in 19 months, on speculation that falling commodities will lower exports. And the nation's
Bovespa stock index fell for a sixth day to 58,706.18, its longest losing streaks since October 2008.
Posts
