|Bid||0.00 x 36100|
|Ask||0.00 x 42300|
|Day's Range||7.85 - 8.32|
|52 Week Range||4.01 - 12.91|
|Beta (5Y Monthly)||1.89|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.29 (3.51%)|
|Ex-Dividend Date||Jul 23, 2020|
|1y Target Est||N/A|
Brazil could produce some good macro news when Congress passes a spending package next month and the public health service ramps up Covid vaccinations.
Brazil's shake up of state-run oil firm Petrobras has caused shockwaves at home but may also prompt some bond investors to rethink their $1 trillion-plus exposure to other government-controlled companies across emerging markets. From China's Exim Bank to Mexican oil giant Pemex or South African utility Eskom, companies wholly or partly government owned make up half of the $2.4 trillion market in emerging market corporate debt.
Outgoing Petrobras CEO Roberto Castello Branco said on Thursday he will ensure a smooth transition to his successor, a retired general hand-picked by Brazil's president, but reiterated his stance that the state-owned company should match international fuel price increases rather than keep them artificially low. "Prices below the international market generate negative consequences," said Castello Branco, who is 76 and normally dresses conservatively but who on Thursday wore a visibly worn T-shirt with the London subway slogan "Mind the Gap". "Mind the Gap" was also a slogan Petrobras adopted in 2019 to refer to its ambition to close the performance gap with the world's top oil and gas firms.