Portugal Telecom SA: Oil producer Petroleo Brasileiro SA declined to the lowest level since Oct. 2 on damped speculation that a new government will curtail intervention in state-owned companies. Phone carrier Oi SA slumped on concern its merger with Portugal Telecom SA is at risk, according to Business Week. Every time a poll shows reduced chances of a change, investors get concerned and adjust their positions to this scenario, Alvaro Bandeira, a partner at Orama Asset Management, said by phone from Rio de Janeiro and The Ibovespa led losses among global stock benchmarks and the real slumped as a voter poll showed President Dilma Rousseff would be tied with candidate Aecio Neves in this weekends election runoff. The Ibovespa fell 2.6 percent to 54,302.57 at the close in Sao Paulo. The benchmark stock index has still rallied 21 percent from this years low on speculation Rousseff will be voted out of office as the nation struggles to recover from its first recession since 2009 and above-target inflation. The real slid 1.2 percent today to 2.4643 per dollar, the most among 31 major currencies tracked by Bloomberg.
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Tagged under Petroleo Brasileiro SA, President Dilma Rousseff topics.