RIO DE JANEIRO, Oct 27 (Reuters) - Brazil’s state-run oil company, Petroleo Brasileiro SA and the country’s leading state-run utilities plunged at the opening of trading Monday on concern the policies of Brazilian president Dilma Rousseff, re-elected Sunday, will hurt sales and profit.
Preferred shares of Petrobras, as the oil company is known, fell 12.8 percent at 10:28 a.m. (1225 GMT) in Sao Paulo. The preferred shares are the company’s most-traded class of stock.
Preferred shares of state-run utility Centrais Eletricas Brasileiras SA, also known as Eletrobras, fell 11.5 percent.
Preferred shares of Centrais Eletricas de Minas Gerais SA , or Cemig, fell 12.4 percent. Cemig is controlled by the state-government of Minas Gerais, whose next governor, elected earlier this month is a member of Rousseff’s Workers’ Party. (Reporting by Jeb Blount and Stephen Eisenhammer Editing by W Simon)