whiteowl

Brazil, the Bovespa Index, PBR and Me

You missed at least two other catalysts for yesterday's action: the Brazilian currency gained 2.6% against the USD, and as the previous poster stated, PBR was granted big increases on the prices it can charge for diesel and gasoline.

The first point is GOOD for PBR as they are spending billions in the shipyards of the world and are also import light sweet crude to feed their refineries. Also, strength in the reai vs USD means a higher price on the ADRs.

Your trade didn't work. Move on.