Reuters: Global Markets: Disappointing earnings, output drag on Petrobras shares

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Disappointing earnings, output drag on Petrobras shares Oct 29th 2012, 13:07 SAO PAULO | Mon Oct 29, 2012 8:19am EDT SAO PAULO (Reuters) - Preferred shares of Brazil's state-led oil company Petrobras (PETR4.SA) fell 3 percent in early trade on Monday, after the company reported weaker-than-expected earnings. Petrobras reported late on Friday that its third-quarter profit fell as refining unit losses rose, an unexpected result after being granted its first wholesale fuel-price increase in six years in June. (Reporting by Reese Ewing; Editing by Gerald E. McCormick)

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