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Cash-short Petrobras shares surge following raise in diesel prices

Thursday, March 7th 2013 - 06:42 UTC
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Brazil’s Petrobras shares surged in Wednesday trading after the company surprised investors with a 5% increase in domestic diesel wholesale prices. The latest increase helps offset investor disappointment with January's lower-than-expected jump in gasoline and diesel prices, which had pushed Petrobras's shares to a seven-year low in recent sessions. Read full article


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