EMERGING MARKETS-Brazil stocks up as Petrobras shares bounce back

EMERGING MARKETS-Brazil stocks up as Petrobras shares bounce back

Chamber Articles Category: Trade News Post Date: 06/05/18 Source: Reuters By: Bruno Federowski
Article Content

BRASILIA, June 4 (Reuters) - Brazilian stocks rose on Monday, propelled by rebounding shares of Petróleo Brasileiro SA after the appointment of a former top executive as its chief executive reduced concerns of government meddling in the state-owned oil company.

Former Chief Financial Officer Ivan Monteiro will replace Pedro Parente as head of Petrobras, as the company is known, after Parente's surprise resignation last week over fuel pricing policies. Read Full Article