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Shares of Brazil oil firm OGX up after nearly two-week slide
April 9, 2013 / 1:28 PM / 5 years ago

Shares of Brazil oil firm OGX up after nearly two-week slide

SAO PAULO, April 9 (Reuters) - Shares of Brazilian oil firm OGX Petroleo e Gas Participações SA, controlled by billionaire Eike Batista, capped a nearly two-week decline in opening trade on Tuesday, bolstered by media reports that Brazil’s government is considering ways to support the company and its sister firms.

OGX shares have fallen 60 percent this year alone due to concerns over weaker-than-expected output and the potential need for more capital.

At 10:19 a.m. local time (1319 GMT) OGX shares were up 0.6 percent to 1.69 reais after having risen as high as 1.77 reais earlier in the session.

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