Embraer shares fall by more than 15% following Temer's handover.
At 14 PM, the Ibovespa was up 0,11%, at 74.827 points; around the same time, Embraer shares were down 14,25%, trading at R$ 23,12, after having fallen more than 15% earlier. The previous day, the company's shares had risen 3,73% on the Ibovespa, trading at R$ 26,95.
247 with Reuters - The Ibovespa lost momentum and retreated on Thursday, with the drop of more than 11 percent in Embraer shares among the biggest negative pressures, after the announcement of an agreement with Boeing for a joint venture in commercial aviation, helping to undermine the benign effect from abroad.
At 14 PM, the Ibovespa was up 0,11%, at 74.827 points. Around the same time, Embraer shares were down 14,25%, trading at R$ 23,12, after having fallen more than 15% earlier. The previous day, the company's shares had risen 3,73% on the Ibovespa, trading at R$ 26,95.
Analysts at BTG Pactual assessed that the valuation was below expectations for the division, but that they still see room for upside for the shares from current prices. Up until the previous day, Embraer's shares had accumulated gains of around 35 percent in 2018.
Until the day before, Embraer's shares had accumulated gains of around 35% in 2018, according to Reuters.