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PBR

Sector Update: Energy

Energy stocks were ending higher today with the NYSE Energy Sector Index rising 0.2% while shares of energy companies in the S&P 500 were up 0.5% as a group.

In company news, American depository shares of Brazilian energy giant Petroleo Brasileiro SA ( PBR ) were moderately higher shortly ahead of Wednesday's closing bell, joining in a rally for shares of several Brazilian companies after new poll results indicate a tightening race for the country's president.

A Vox Populi poll published today and commissioned by Carta Capital magazine, was reporting Brazilian President Dilma Rousseff's lead over Senator Aecio Neves of the Brazilian Social Democracy Party had narrowed to 19%, with Neves rising 5% in the latest poll to 21% of the likely vote. Rousseff's support was steady at 40% in both polls.

Nearly a third of the Brazilian electorate remains undecided according to the Pox Populi poll.

PBR ADS were up 1.1% at $15.53 apiece, today climbing as high as $15.79 a share. The stock has a 52-week of $10.20 to $17.97 per ADS, slipping about 1% over that 12-month span.

In other sector news,

(+) BIOF, Former ethanol producer announces deal to acquire real estate developer JBGL Builder Finance from Greenlight Capital and James Brickman for $275 mln in cash and stock.

(+) OII, Wins new contract to supply a combined 31 miles in super-duplex steel tube production-control umbilical systems for FMC Technologies ( FTI ) and its Jangkrik project in the Muara Bakau field off the Indonesia coast.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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