Petrobras shares fall 8% on the Bovespa stock exchange after Bolsonaro backtracks on diesel price increase.
The main indicator of the São Paulo stock exchange, B3, is operating in decline this Friday (12), pressured by the sharp fall of Petrobras, after the state-owned company gave up on raising the price of diesel at its refineries by 5,74%, complying with the interference of the government of Jair Bolsonaro; at 15:40 pm, the Ibovespa fell 1,85%, to 92.999 points; Petrobras ordinary shares fell 8,04%, trading below R$ 30 per share.
247 - The main indicator of the São Paulo stock exchange, B3, is operating in decline this Friday (12), pressured by the sharp fall of Petrobras, after the state-owned company gave up on raising the price of diesel at its refineries by 5,74%, complying with the interference of the government of Jair Bolsonaro. At 15:40 pm, the Ibovespa was down 1,85%, at 92.999 points.
Around the same time, Petrobras' common shares were down 8,04%, trading below R$30 per share. Preferred shares were down 7,39%, near R$26 per share. Despite the sharp drop, Petrobras' shares still show an accumulated gain of over 15% for the year.
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The main indicator of the São Paulo stock exchange, B3, is operating in decline this Friday (12), due to the fall in Petrobras shares, after the state-owned company gave up on increasing the price of diesel at its refineries by 5,74% after government intervention. At 11:53 am, the Ibovespa was down 0,35%, at 94.420 points. Around the same time, Petrobras' ordinary shares were down 4,96%, and preferred shares were down 4,25%.
The company reversed its decision following a directive from President Jair Bolsonaro. To justify maintaining the price, the state-owned company stated that there is room to postpone the adjustment for "a few days".
On the other hand, Vale was up 1,20% and Itaú advanced 0,18%, which mitigated the losses of the Ibovespa.
The previous day, the Ibovespa fell for the third consecutive trading session, dropping 1,25% to 94.754 points.