Brazil Suffers Massive Power Outage, Yet Shares Little Affected (EWZ)
Brazilian ETF, iShares MSCI Brazil Index Fund ETF (NYSE: EWZ), is relatively flat today despite news that nearly half the country was affected by a major power outage last night.
According to reports from the Associated Press, the outage, which hit at 10:15 pm Tuesday (0015 GMT Wednesday) lasted four to six hours and put nearly half the country into darkness. An estimated 50 million people were affected. Power was mostly returned before dawn, though several areas remained without energy.
The ETF EWZ has been en fuego after Brazil was awarded 2016 Olympics.
Some Brazilina utility companies:
CPFL Energia S.A. (NYSE: CPL), Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE: SBS), Companhia Energetica de Minas Gerais (NYSE: CIG), Companhia Paranaense de Energia (NYSE: ELP).
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