Morning Alert: Petroleo Brasileiro SA Petrobras (NYSE:PBR) and Vodafone Group PLC (NYSE:VOD)

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Brazilian oil and gas firm Petroleo Brasileiro SA Petrobras (NYSE:PBR) were getting investors’ confidence following the firm declared a hike to diesel prices.

In a regulatory filing in the start of this morning, the firm informed of a 5% hike in diesel prices at the refinery gate, effective March 6. The firm reported that the price of diesel which the readjustment applies to does not include federal taxes and state taxes.

How stock of Petroleo Brasileiro SA Petrobras (NYSE:PBR) was performing on Wednesday? Find in this report

Shares of Petroleo Brasileiro SA Petrobras (NYSE:PBR) changing hands at New York were up almost 12% to $16.22 in mid-morning trading session on Wednesday.

The stock opened the trading session $16.22 and was hanging around $15.90, with surging volume of 21.35 million shares traded so far.

On Wednesday Vodafone Group PLC (NYSE:VOD) shares led UK stocks to a new 2013 peak following reports that its joint- venture partner Verizon Communications Inc. is rethinking the merger.

How Vodafone performed after the news on FTSE 100 Index? Find in this report

Vodafone (VOD) was rallying above 6%, following Bloomberg News late Tuesday announced that Verizon Communications is thinking over different options concerning its association with the UK telecom tycoon.

The options vary from ending the wireless venture to a complete merger, the report added. Vodafone possesses a 45% interest in the Verizon Wireless subsidiary, while Verizon possesses the rest. A representative from Vodafone refused to comment.

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