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

The Ibovespa, the main stock index of the São Paulo stock exchange, the B3, continues to fall this Monday (20), after the sharp drop in the last trading session, when it resumed levels of November 2020.

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.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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