Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR A) continues to surf through political scandals and money laundering claims involving bogus government contracts, as the Brazilian political landscape led by political opposition continues to reach fever pitch. This is despite President Dilma stating that no one or nothing would affect the company’s operation. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares after opening at $14.06 moved to $14.58 on last trade day and at the end of the day closed at $14.14. Company price to sales ratio in past twelve months was calculated as 0.68 and price to cash ratio as 3.69. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) showed a positive weekly performance of 3.97%.
04/24/2014 Vale SA (ADR)(NYSE:VALE) declined sharply after the report showed that the manufacturing has slumped further in China. The drop in commodities led to the decline in the Ibovespa (IBOV). It is the biggest trading partner of Brazil. Vale SA saw a sharp decline in its stock price. It fell to the lowest level in last one month. The sharp decline in Vale SA resulted in significant fall in the IBOV index. The MSCI Brazil index was hit by the stock Fibria Celulose SA. It is a pulp producing company. In the other sector, Banco Itau BBA SA withdrew its buy recommendation for Raia Drogasil SA (RADL3).Vale SA (ADR) (NYSE:VALE) shares advanced 0.15% in last trading session and ended the day on $13.36. VALE return on equity ratio is recorded as 7.10% and its return on assets is 3.40%. Vale SA (ADR) (NYSE:VALE) yearly performance is -16.55%.
Newmont Mining Corp. and Barrick Gold Corporation (USA) (NYSE:ABX) blamed each other Monday for the collapse of merger talks that could have combined two of the world’s largest gold producers. Newmont released a letter it sent to Barrick co-chairman John Thornton and the company’s board of directors that laid the failure at the feet of the Canadian company. Barrick Gold Corporation (USA) (NYSE:ABX) shares moved up 1.96% in last trading session and was closed at $17.67, while trading in range of $17.37-$17.80. Barrick Gold Corporation (USA) (NYSE:ABX) year to date performance is 0.45%.
One of the strongest emerging leaders in the domain of manufacturing and engineering lightweight metals, Alcoa Inc (NYSE:AA) is on a roll after the release of its 1Q2014 results. Alcoa is known for multipronged innovation & solutions. From automotive sector to commercial transportation, from commercial industry to electronic products, Alco supports massively the production and engineering in this Industries. By using the strong platform built after the 1Q2014 results, it is all set to take off for robust development and innovation. Alcoa Inc (NYSE:AA) weekly performance is -0.52%. On last trading day company shares ended up $13.44. Alcoa Inc (NYSE:AA) distance from 50-day simple moving average is 8.62%. Analysts mean target price for the company is $12.00.
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