Economy

Market roundup: 2022 has been kind to Petrobras

Despite a highly volatile market scenario, Petrobras shares remain positive this year

petrobras stock prices lula
Photo: Bruno Cesar Spada/Shutterstock

🔔The dashboard: Brazil’s benchmark stock index Ibovespa gained 2.23 percent this week. Meanwhile, the Brazilian Real lost 0.19 percent against the U.S. Dollar. 

  • Biggest gains: Estacio (education), +27.27 percent
  • Biggest drops: Marfrig (food), -8.54 percent

Despite recent volatility, Petrobras shares perform well over the year

Over the last month, ordinary shares of Brazilian oil and gas giant Petrobras suffered substantial losses – including a 7-percent slide today. Stock prices are down as crude oil prices plummet amid fears of a global economic slowdown and concerns about high inflation and rising interest rates.

Still, Petrobras’s ordinary shares remain up by over 50 percent year-to-date. And they have doubled in value over 12 months.

Why it matters. Petrobras is Brazil’s biggest company and its shares account for over 11 percent of the Ibovespa benchmark stock index.

Oil. As central banks in Europe, Asia, and the U.S. hike interest rates in an attempt to cool their economies, commodity-related stocks suffer as investors anticipate a drop in demand. The...

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