The president Jair Bolsonaro (without a party) announced last Friday, the 19th, the appointment of General Joaquim Silva e Luna, the current director of Itaipu Binacional, for the presidency of Petrobras. If the government’s choice is approved by the Petrobras Board of Directors, Luna e Silva will replace Roberto Castello Branco, the current head of the state-owned company appointed by Bolsonaro after the 2018 elections. The announcement of Petrobras’ change of command has raised concerns in the financial market since, since the decision, the state company has lost about R $ 100 billion in market value – at the close of last Thursday, Petrobras was valued at R $ 382.9 billion, against R $ 282.2 billion this Monday -market.
“We are talking about a very intense drop, but perhaps it is not the time for the investor to sell or buy shares Petrobras. We are experiencing a period of turbulence in the financial market, stocks are plummeting, like fruit falling from the tree. We will wait for the new president of Petrobras to speak out to understand how things will be going forward. To make decisions with investments, it is necessary to wait and set up a thorough analysis. It is generally negative to buy or sell in despair, ”warns Spyer.