Home Bolsonaro's advance this Tuesday made Petrobras the most valuable company in Brazil

Bolsonaro's advance this Tuesday made Petrobras the most valuable company in Brazil

3 October 2018 to 11: 20
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Petrobras Bolsonaro Privatization valuation

Investors' optimism made the shares of the state-owned company have a valuation of R$ 319,928 billion, surpassing Vale on October 2

With the progress of presidential candidate Jair Messias Bolsonaro (PSL) in the latest voter polls this Tuesday (2), Petrobras' shares were boosted, reaching a valuation of R$319,928 billion reais, surpassing even Vale, which is now the second largest value company in Brazil, followed by Ambev and Itaú respectively in third and fourth place.

Bolsonaro's policy of opening the Brazilian market to world capital is seen by investors as a good indication for future projects in the country, since the candidate has an ideological bias towards privatization in the Golden Share modality, which the government would still have some decision-making power at Petrobras.

Despite this milestone, the highest appreciation celebrated by the company in 2018 was in May, reaching the level of BRL 388,845 billion. The Ibovespa, the index that includes the main shares traded on the São Paulo Stock Exchange, ended the day up 3,78%, at 81.593,85 points. There has not been such a huge appreciation on the Stock Exchange since November 7, 2016.

Director of Petrobras says that the worst phase of the state-owned company is over

Petrobras completed 10 years of pre-salt production on September 2, with the first oil in Campo d Jubarte, in Espírito Santo. From that time until now, 20 offshore production units have been incorporated into the national fleet, bringing production to an incredible 1,5 million barrels of oil every day. Despite some deals that brought losses to the state-owned company and corruption investigations, Petrobras is now entering the “positive ascendancy” phase. Check here what will be the new phase of prosperity for Petrobras in 2018.

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