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🔔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.
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.
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