Monday, March 1, 2021

After falling shares, Petrobras loses R $ 75 billion in market value – Prime Time Zone

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With the fall registered on Monday, 22, the state company adds a loss of R $ 100 billion in the last two sessions

Petrobras Agency / Geraldo FalcãoBolsonaro’s shares contributed to the loss of value of the state-owned company

Still feeling the change in the presidency made by Jair Bolsonaro (without party), Petrobras suffered a further fall in stocks and lost almost R $ 75 billion in market value this Monday, 22. The state-owned company has lost more than R $ 100 billion in market value since Friday, 19, when Bolsonaro announced that General Joaquim Silva e Luna would be the new president of the company, replacing Roberto Castello Branco. At the time, the loss was almost R $ 28 billion. As a result, Petrobras’ value closed the first trading session this week at R $ 278 billion, showing a 27% drop from the R $ 383 billion recorded on Thursday, before Bolsonaro’s announcement.

The company’s common shares closed the second with a drop of 20.48%, while preferred shares fell 21.51%. On Friday, the first day of decline, common shares closed down 7.92% and preferred shares fell 6.63%. The fall of Petrobras caused the Ibovespa also close the day down. The main index of Brazilian Stock Exchange closed the second with a fall of 4.87%, at 112,667. The dollar also closed the day up 1.2%, being quoted at R $ 5.453, reaching the R $ 5.533 mark.

On Saturday, 20, Bolsonaro criticized the management of Castello Branco and said that further changes would occur this week. He also stated that the value of gasoline could be 15% cheaper if the inspection agencies “were working”, before citing Petrobras, the Ministry of Mines and Energy, the Federal Revenue Service, “which has to do with invoices, and don’t see ”, and Inmetro. “These are other bodies that no one has ever bothered to do anything about. When there is an increase in fuel, people aim and shoot the President of the Republic. This will start to change, it started to change. We have to remove whoever is in front of Petrobras ”, pointed out the president.

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After falling shares, Petrobras loses R $ 75 billion in market value - Prime Time Zone