Eletrobras Shares Jump After Auditors Approve Privatization Plan

Eletrobras’s shares were among the best performers on the Sao Paulo stock exchange after Brazil’s audit court gave the government the green light to privatize the giant power generator.

Shares of the utility, formally known as Centrais Eletricas Brasileiras SA and which generates about 30% of all electricity in Brazil, gained about 2.5% in early trading on Thursday, contributing to a rise in the benchmark Ibovespa index.

Investors are optimistic about chances of privatization still this year, even as the window for that sale seems to be quickly closing as October’s presidential election nears. “It would help boost Brazil’s investment ...