Brazilian stocks and currency climbed on Tuesday, with the benchmark Bovespa index reaching its highest level in over seven months, on speculation President Dilma Rousseff will lose more ground in upcoming election polls. Contributing the most to gains on the Brazilian bourse were shares of state-run companies such as Banco do Brasil and Petroleo Brasileiro SA(ADR) (NYSE:PBR) which are expected to benefit from less government meddling in their businesses. Petrobras’ stock rose 0.7 percent. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock opened today at $15.49 and is currently trading at $15.46. The stock showed a positive weekly performance of 9.36%.
Houston based Anadarko Petroleum Corporation (NYSE:APC) might end up paying billions of dollars for the Macondo, Gulf of Mexico, oil spill. A U.S appeals court said that the company is liable under Clean Water Act though it argues that the incident occurred due to faulty machinery on part of Transocean Ltd. BP plc (ADR) (NYSE:BP) might have to share the brunt of this oil spill in the gulf too as it partnered with Anadarko in this project. Anadarko Petroleum Corporation (NYSE:APC) stock opened at $103.21, in current trading session and currently is at $104.39, by gaining 0.45%. The 52 week range of $73.60 – $104.84. Company’s market capitalization is 52.72 billion.
North American Palladium Ltd. (NYSEMKT:PAL) announced that Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), two leading independent proxy advisory firms, have recommended to their respective institutional clients that they vote in favour of all the resolutions to be considered at NAP’s annual and special meeting of shareholders to be held on June 23, 2014 in Toronto. North American Palladium Ltd (USA) (NYSEMKT:PAL) stock is currently trading at $0.317. The EPS of the stock is -0.32. Company’s market capitalization is 115.02 million.
Encana Corporation (USA) (NYSE:ECA) Canada’s largest natural gas producer, has entered a deal with Freeport-McMoRan Oil & Gas to purchase Eagle Ford shale assets for $3.1 billion. Encana Corporation (USA) (NYSE:ECA) stock opened the session at $23.57, and now is at $23.71. The 52 week range of the Encana Corporation (USA) (NYSE:ECA) stock remained $16.48 – $23.93 and the day range was $23.41 – $23.71.
Numis Securities Ltd reaffirmed their buy rating on shares of Randgold Resources Limited (ADR) (NASDAQ:GOLD) in a report released on Tuesday. Numis Securities Ltd currently has a GBX 5,900 ($99.19) price objective on the stock. Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) stock opened today at $74.46 and is currently trading at $75.15. The stock showed a positive weekly performance of 1.26%.