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Stock impact report

Brazil judge orders ex-president Lula jailed by Friday [Reuters]

Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: Reuters
Brazil judge orders ex-president Lula jailed by Friday | Reuters 2 Min Read BRASILIA (Reuters) - A Brazilian judge on Thursday ordered former President Luiz Inacio Lula da Silva to turn himself in to police within 24 hours to serve a 12-year sentence for a bribery conviction, likely ending the presidential frontrunner’s hopes of returning to power. An appeals court in January upheld Lula’s conviction for taking bribes from an engineering firm in return for help landing contracts with state-run oil company Petroleo Brasileiro SA. Earlier on Thursday, Brazil’s Supreme Court rejected Lula’s plea to remain free until he exhausts all his appeals, in a corruption case he calls a political witch hunt. The ruling likely ends his political career and any chances he has of running for president, despite opinion polls showing he would easily win a first-round vote in an election scheduled for October. Brazilian financial markets rallied on Thursday after the Supreme Court decision, which plunged Show less Read more
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