The Ibovespa, the main index of the Brazilian stock exchange, started November on the positive side, after a sequence of four months in decline. The index rose 1.98%, led by Petrobras shares, which rose nearly 4%.
According to the director of CNN Brasil Business, Fernando Nakagawa, the discharge happened for two reasons.
The first was due to the speech of President Jair Bolsonaro (no party) about a new readjustment of the state-owned company in 20 days, which encouraged investors, because this means more revenue for Petrobras.
“Petrobras announces, this I know unofficially, a new readjustment in 20 days”, said Bolsonaro. “This can not happen. We can’t stand it, because the price of fuel is linked to inflation,” said the president.
Later, the company itself said that it does not anticipate price increases, which is good for the shareholder because it demonstrates the company’s independence.
In a statement to the market, the oil company stressed that “it does not anticipate readjustment decisions” and “that there is no decision taken by its Executive Market and Prices Group (GEMP) that has not yet been announced to the market.”
When contacted, the Brazilian Securities and Exchange Commission (CVM) informed the CNN, in a note, that “follows and analyzes information and movements within the Brazilian capital market, taking appropriate measures, whenever necessary”. “The Autarchy does not comment on specific cases”, he added.
Reference: CNN Brasil
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