Petrobras Shares Rise Strongly for Electoral Bets

Posted by Joseph R. Fonseca
Sunday, August 17, 2014

 

Preferred shares of Brazilian state oil company Petrobras rose sharply on Friday as investors bet that President Dilma Rousseff will not be able to win re-election in the first round of the October elections.

The death of the presidential candidate Eduardo Campos in a plane crash on Wednesday raised expectations that their popular running mate Marina Silva is the representative of his party in the elections, complicating Rousseff's aspirations of winning without having to go to a second round .

Investors expect a new government to approve more favorable to the interests of the minority shareholders of Petrobras policy. Some analysts said the market reaction may have been exaggerated by the term of stock options contract on Monday.

At 1904 GMT, Petrobras preferred shares rose 6.94 percent to 19.88 reais, while the common stock were up 6.24 percent to 18.57 reais.(Reporting by Asher Levine Edited by Manuel Farias)

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

Dann Marine Repowers With Cummins Tier 3 Engines

Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

News

Vessel Discharge Legislation Awaits Congressional Nod

The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, hailed the House introduction of

Seagull Maritime Response on Safety, Security

Key areas of concern for seafarer safety and security in both marine and offshore operations have triggered the release of six new and one supplementary titles

Antwerp Port Seeks Inputs on Setting-up LNG bunkering

By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way.

 
 
Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1025 sec (10 req/sec)