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Equity Market News 06th February 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

15/06/05

Permalink 06:34:30 pm, Categories: Americas, 186 words  

Sao Paulo equities hit by political scandal

The stock exchange in São Paulo, Brazil, had lost at least three percentage points in early trade on Wednesday as a political corruption scandal involving the ruling Worker’s party (PT) flared up again.

The PT has been accused of bribing some legislators as a way of securing their votes.

Earlier in the week, it looked as if the scandal was dying down after Roberto Jefferson, head of the PTB party, which is a member of the ruling coalition, could only provide circumstantial evidence that the PT had bribed legislators when he testified before a congressional panel on the issue.

However, an interview was published on Wednesday in which the former secretary of a PT aide said she had witnessed repeated deliveries of cash to government officials.

Some analysts now say that the accusations being made in the controversy have as much to do with the upcoming general election, set for October, as it does with trying to root out corruption in the government.

Especially if this is true, the scandal and the crisis that it has caused will not be over any time soon.

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