Common shares in Eletrobras , as the company is known, shot up over 30 percent in early trading, their biggest daily gain since 1999. Preferred shares (>> Centrais Eletricas Brasileiras SA) rose as much as 23 percent before paring gains to 18 percent.

(Reporting by Bruno Federowski)

Stocks treated in this article : Centrais Eletricas Brasileiras SA, Banco do Brasil SA