Tuesday, July 24, 2007

Brazil's Bovespa Falls, Led by Petrobras, on Tax Bill; TV Azteca Declines

(Bloomberg) -- Brazil's main stock index slid the most
in six weeks, led by state-controlled oil company Petroleo
Brasileiro SA, as the company received a bill for $710 million in
unpaid taxes and oil prices dropped.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 800.03, or 1.4 percent, to 57,236.74 as of 1:20 p.m.
New York time. Petrobras accounted for more than a quarter of the
drop. Mexico's benchmark Bolsa index declined 295.91, or 0.9
percent, to 31,872.52.


Read more at Bloomberg Stocks News

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