Brazil ETF (EWZ) In Focus After Puzzling Petrobras Deal

Despite relative strength in emerging markets, shares of Brazilian companies have lagged far behind their counterparts in South America as Chilean and Colombian index funds have both been crushing South America’s largest economy as of late. While this has helped to divert the focus away from Brazil for much of the summer, the coming fall season looks to put the BRIC member back into focus as one of the nation’s largest companies, Petrobras, signs a historic deal with the government that is likely to have far reaching implications for years to come. Petrobras, the country’s main oil company and one of the largest publicly traded oil firms in the world, announced a massive deal with the Brazilian government in order to gain access to the vast oil deposits off of the country’s coast. The Brazilian government will charge the company $8.51 a barrel for access to the oil, in a [...] Click here to read the original article on ETFdb.com. Related Stories: Brazil ETF (EWZ) In Focus After Central Bank Holds Rates Steady Brazil Consumer ETF (BRAQ) Debuts Brazil ETFs: Big Returns Come In Small Caps