Petroleo Brasileiro SA, owner of the Western Hemisphere's largest oil discovery in three decades, passed Microsoft Corp. and Industrial and Commercial Bank of China Ltd. to become the world's sixth-largest company by market value.
Petrobras, as Brazil's state-controlled oil producer is known, climbed 3.8 percent to 50 reais, pushing its capitalization to 487.9 billion reais ($295.6 billion), according to data compiled by Bloomberg. Microsoft, which yesterday revived the possibility of purchasing Yahoo! Inc., fell 1.8 percent to $29.46, lowering its overall value to $274 billion.

ICBC's A shares listed in Shanghai rose 0.2 percent to 6.22 yuan. The market value of the world's largest bank is 2. ... Read full article