After negotiations on the Brazilian Stock Exchange were paralyzed for 30 minutes, during the triggering of the panic mechanism circuit break, Petrobras shares fell again this Monday, the 9th. ON shares fell 22.69% and PN shares 24% at 12:27 am, while the Ibovespa lost 8.92% at 89,259.77 points.
Despite discounting the downtime of just over half an hour, the shares were traded for around 45 minutes and, in that time, the oil company has already lost R$ 67 billion.
Brent-type oil
Brent oil continues to fall, although less intense than observed earlier. So with a low of 18%, after Saudi Arabia decided to increase the production of the commodity and reduce prices. The move was interpreted as retaliation for the lack of agreement between members of the Organization of Petroleum Exporting Countries and allies (OPEC+) on production cuts.
According to a financial market analyst, Saudi Arabia's decision could put new Petrobras projects at risk. And so is your investment plan. Another expert points out that if the drop in oil prices on the international market lasts, Petrobras' cash generation will be affected.
Refrigerators and airlines have losses
Meatpacking stocks also stand out among the biggest drops on the B3. Investors are beginning to digest information about logistical problems in China and rising production costs, which would be challenging the meat industry.
“With the worsening of the coronavirus in China and the consequent slowdown of the Chinese economy. However, the ports became a panic problem, and containers stopped in the country started to be diverted to other destinations”, said XP Investimentos in a report.
The assessment is that the lower movement of people in China will reduce consumption away from home, negatively affecting the demand for proteins.
Around 11:40 am, JBS ON dropped 11.90%, Minerva ON lost 12.21% and BRF ON had a low of 8.70%. Marfrig ON fell by 15,99%.
Airlines also accumulated losses. Shares PN of Gol and Azul bitter fall around 10% before the soaring of the dollar which at 11:47 was high of 2.30%, R$ 4.7403.
At the maximum, it reached R$ 4.7927. According to analysts, companies are still affected, since around 70% of their costs are pegged to the US currency.
