Petrobras Reached Valuation Exceeding 33 Billion Reais This Week

With Market and Investors Excitement, Petrobras Shares Rose 11% in the Second Week of October Recently

On Monday (8), after the election results, the euphoria was total in the stock market, where Petrobras’ market value increased by R$33.619 billion. According to the research from the financial information provider Economatica, the state-owned company ended the second worth nothing more nothing less than R$366.260 billion, which is about R$33.619 billion more in just three days.

Also on October 8 (Monday), the preferred shares rose about 11%, and the common shares advanced 9.5%, while the Ibovespa closed the session up 4.57%, at 86,083 points. With this, the state-owned company began the week with a high market value, also being the largest in Latin America and the United States in the trading session according to Economatica.

An increase like this demonstrates that a change in the country’s policy leads investors to look favorably at the company, increasing its credibility in the market. For us Brazilians, this is great news, as it means improvement in the job market since the country still revolves around oil.

The most valuable company on the stock exchange with these changes is currently Petrobras, followed by Itaú Unibanco, worth around R$300.828 billion, and the mining company Vale worth R$296.513 billion.

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