With market and investor exaltation, Petrobras shares rose 11% in the second week of October recently
This Monday (8) after the election results, the stock market was full of euphoria, where Petrobras' market value increased by R$33,619 billion. According to a survey by financial information provider Economatica, the state-owned company ended the second worth no less than R$366,260 billion, that is about R$33,619 billion more in just three days.
Also on October 8 (Monday) preferred shares rose by around 11%, and common shares advanced by 9,5% and the Ibovespa ended the session up by 4,57%, to 86.083 points. With that, the state-owned company started the week, with a high market value and also being the largest in Latin America and the United States on the trading floor according to Economatica.
An increase like this demonstrates that a change in the country's policy makes investors look favorably on the company, increasing its credibility in the market. Which for us Brazilians is great news, as it means improvement in the job market, as the country still revolves around oil.
The most valuable company on the stock exchange with these changes is now Petrobras, followed by Itaú Unibanco, worth around R$300,828 billion, and mining company Vale, worth R$296,513 billion.
