Shares of Brazil state-run firms soar as Rousseff approval drops
SAO PAULO, March 27 (Reuters) - Shares of Brazil's state-controlled companies jumped on Thursday after a poll showed a decline in President Dilma Rousseff's approval rating as investors bet the stocks' outlook would brighten if Rousseff fails to win re-election.
Many investors have criticized the Rousseff administration for heavy-handed government intervention in the private sector and policies that run against the interests of minority shareholders in state-controlled firms.
At 11:28 a.m. (1428 GMT), shares of state-run lender Banco do Brasil SA were up 6 percent, while oil company Petroleo Brasileiro SA, known as Petrobras, advanced more than 5 percent. State-controlled electric utility Centrais Eletricas Brasileiras SA, known as Eletrobras, jumped nearly 9 percent. (Reporting by Asher Levine; Editing by Nick Zieminski)
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