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Monday, Sep 30
Petrobras gains on speculation of Brazilian fuel price increase
- Petrobras (PBR +1.8%) bucks today's broader downtrend after CEO Maria das Gracas Foster expresses optimism for an increase in Brazilian fuel prices.
- PBR is planning a new price adjustment policy to stem losses from fuel imports, Brazilian newspaper O Globo reported yesterday, citing an interview with Foster, who said that she is working for it to happen.
- “Investors are optimistic that the long-awaited increase is very close,” says the top analyst at the SLW Corretora brokerage firm.