Ibovespa falls below 99 thousand points; Petrobras has a fall of more than 2% | Economy

At 11:12 am, the Ibovespa dropped 0.93%, to 98,897 points. See more quotes.

Petrobras remained in the spotlight after the resignation of the company’s president amid mounting pressure after a new price adjustment last week.

The oil company’s shares were suspended at the opening, for about 1 hour, due to the material fact of Petrobras disclosed to the market this morning, and were traded with a drop of more than 2%, after having fallen by 3%.

On Friday, the company’s shares had a strong fall and the company lost R$ 27.3 billion in market value.

On Friday, the Stock Exchange closed down 2.90%, at 99,824 points, losing the level of 100 thousand points for the first time since November 2020. As a result, it started to accumulate a decrease of 10.35% in the month . In the year, the fall is now at 4.77%.

What is messing with the markets?

The US holiday (slave emancipation) limits the volume of trading in financial markets this Monday.

Oil prices traded slightly lower, with a barrel of Brent quoted around US$ 112. Iron ore prices fell 8% in China, reaching the lowest level since mid-December, amid the slow recovery activity in Chinese civil construction, the increase in steel inventories in steel mills and fears that the “covid zero” policy in China will continue to put pressure on the local economy.

Here, the highlight is the resignation of Petrobras president José Mauro Ferreira Coelho. The executive came under pressure from the government after the state-owned company announced a readjustment of diesel and gasoline last Friday.

The president of the Chamber of Deputies, Arthur Lira (PP-AL), summoned the leaders of the ruling parties to discuss changes in Petrobras’ price policy this Monday.