The actions of Petrobras They operate in falling on Monday (20) in the Brazilian stock exchange. A negociação dos ativos chegou a ser suspensa na B3 on the same day that the president of the state-owned company, José Mauro Ferreira Coelho, resigned from his position.
At around 11:10 am, ordinary paper (PETR3) dropped 2.07%, quoted at R$ 29.31. The preferred share of the state-owned company (PETR4) fell 2.2%, to R$ 26.71.
B3 informed the CNN which even suspended negotiations of the two actions twice, the first around 9:57 due to the disclosure of the relevant fact that he reported on the Rabbit’s resignation . They resumed around 10:50 am and suspended again at 11:06, after the announcement of the new interim president, being resumed around 11:30 am.
Petrobras shares entered a downtrend after the company announced a new adjustment in gasoline and diesel prices. On Friday (17), the common paper fell by 7.25%, at R$32.27, and the preferred paper fell by 6.09%, at R$29.08.
Investors fear that the federal government will intervene to change the pricing policy, with international parity, and try to prevent further increases. In addition, the unfavorable international scenario worsened the movement.
Flavio Conde, a stock analyst at Levante Investimentos, says that the resignation should intensify the fall in the state’s shares, but the move would already occur in this session due to market fears with the possibility of creation of a CPI to investigate adjustments and criticism from the president of the Chamber Arthur Lira, to the price policy, advocating that it be changed.
“The renunciation is symptomatic, and indicates that now there will only be someone who defends a freezing price while the government reviews the formula of the parity system,” says Conde.
Felipe Ruppenthal and Rodrigo Diniz, from Eleven Research, consider that the resignation “happens in a scenario of strong government pressure on the state-owned company, which was accentuated after the announcement of gasoline and diesel price readjustments”.
“We believe that this could accelerate the change of the Board of Directors, which is in process and that noises of government interference in the state-owned company continue to harm the performance of the action, together with a scenario of great uncertainty about the degree of cooling of the main world economies, which is causing the price of oil to fall.
Source: CNN Brasil