SAO PAULO, April 4 Brazil's benchmark Bovespa
stock index fell 2 percent on Thursday, as shares of oil
producer OGX Petroleo e Gas Participacoes SA dropped
below 2 reais for the first time.
Shares of OGX, controlled by billionaire Eike Batista, slid
over 11 percent after Standard & Poor's lowered the company's
debt rating to B-minus from B, citing lower-than-expected
Mining giant Vale's preferred shares dropped 3.8
percent after Brazil's Supreme Court on Wednesday put off a
ruling that will decide on how the foreign profits of companies
like Vale are treated by tax authorities.
At 1647 local time (1947 GMT), the Bovespa was down
2.02 percent at 54,442.16.