Petrobras has lost R$219.6 billion in market value since October 21, the date on which the oil company’s quotation broke its historic record, according to a survey by the TradeMap investment platform.
The loss, points out the commercial head of TradeMap, Einar Rivero, is practically equivalent to an entire Ambev, which, considering the closing price of its shares on Wednesday (14), is now worth R$ 238 billion.
Petrobras’ market value reached R$520.6 billion on October 21, the highest ever recorded by it. At the close of this Wednesday, after a fall of almost 10% in the shares, the company was worth R$ 301 billion.
Petrobras’ common shares (PETR3) led the day’s losses on the Ibovespa and closed the trading session with a 9.8% drop, after the Chamber of Deputies carried out a lightning approval of a bill that makes the State-owned Law more flexible.
Just with the variation on the day, Petrobras lost R$ 30 billion in market value, according to TradeMap.
The company’s preferred shares (PETR4) had the second worst performance on the stock exchange and fell 7.9%, while the Ibovespa rose 0.2%.
The State-owned Law was enacted in 2016 by the government of Michel Temer with new rules that aimed to professionalize the governance of companies controlled by the government and avoid interference.
The alterations made by the Chamber facilitate political appointments to the direction of state-owned companies, and were approved on the same day that president-elect Luiz Inácio Lula da Silva confirmed the appointment of Aloizio Mercadante to the presidency of the National Bank for Economic and Social Development ( BNDES).
Source: CNN Brasil
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