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    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

(PETR4)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Latam FX subdued by virus fears; Brazil stocks eye 4-mth closing high

07/10/2020 | 03:55pm EDT

    * Chilean peso set to outperform peers for the week
    * Argentine stocks outpace peers for the week
    * U.S. record rise in COVID-19 cases chokes risk appetite
    * Petrobras up as Mubadala set for talks to buy Bahia
refinery

 (Adds graphic, updates prices)
    By Shreyashi Sanyal and Ambar Warrick
    July 10 (Reuters) - Brazilian stocks were set for their
strongest close in more than four months on Friday, while
broader sentiment remained subdued amid increasing global
coronavirus cases. 
    The Bovespa stock index added about 0.8% after data
showed inflation as measured by the IPCA consumer price index
rose 0.26% in June over May, picking up after the deflation
reported in the previous month.
    State-owned oil company Petrobras rose 1.5% after
it said Abu Dhabi's investment fund, Mubadala Investment Co
          , will enter exclusive talks to purchase Brazil's
second-largest refinery.
    Improving economic indicators in Brazil, Latin America's
largest economy, put its stocks on course for a 3.2% weekly
gain. Still, the country has the second-highest number of
coronavirus infections in the world, behind only the United
States.
    Mexico's peso and the Brazilian real rose
against the dollar, but were set the end the week largely
unchanged. Most other currencies moved in a flat-to-low range
for the day. 
    Chile's peso was set to outperform peers for the
week, tracking strength in the copper market. Chile is  the
world's largest exporter of the red metal.
    Argentine stocks, which did not trade on Friday with
the market closed for the day, outperformed their regional peers
by a wide margin this week amid improving sentiment on the
country's negotiations with its sovereign debt holders.
    
    Sentiment for the day was dampened as new coronavirus
infections reported across the United States marked a record
rise on Thursday.
    Rising coronavirus cases sparked worries of tighter
containment measures, which could delay the economic recovery.
Latam markets have rebounded sharply from a meltdown in March,
but surging cases, political issues, concerns over sovereign
debt and deteriorating economic fundamentals have weighed.
    Mexican stocks fell 1%, with data showing a 1.8%
decline in industrial output in May from April and down 30.7%
year-over-year.     
    "May's release suggests that Mexico's economy has probably
suffered one of the largest peak-to-trough falls in output in
the emerging world," said Nikhil Sanghani, assistant economist
at Capital Economics.
    "What's more, its (Mexico) recovery has been delayed and is
likely to be weaker than in other emerging markets where the
virus is under control."
    The peso was set to lag its peers for the week,
albeit slightly.
    In Venezuela, the congress on Thursday said it hired two
U.S. firms to manage $80 million seized from President Nicolas
Maduro's government after Washington disavowed it and recognized
opposition leader Juan Guaido as the country's legitimate
president.    
    Key Latin American stock indexes and currencies: 
    
    Stock indexes             Latest       Daily % change
 MSCI Emerging Markets         1069.83                  -0.91
                                        
 MSCI LatAm                    1975.48                   0.25
                                        
 Brazil Bovespa               99929.88                   0.78
                                        
 Mexico IPC                   36425.30                  -1.01
                                        
 Chile IPSA                    4028.54                  -0.09
                                        
 Colombia COLCAP               1144.79                   0.15
                                        
                                                             
       Currencies             Latest       Daily % change
 Brazil real                    5.3258                   0.30
                                        
 Mexico peso                   22.4710                   0.69
                                        
 Chile peso                      792.4                  -0.56
                                        
 Colombia peso                 3608.37                   0.16
 Peru sol                       3.5017                  -0.06
                                        
 


    
 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Dan
Grebler)
  

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / BRAZILIAN REAL (CAD/BRL) 0.25% 4.1772 Delayed Quote.3.10%
EURO / ARGENTINE PESO (EUR/ARS) 0.00% 115.4721 Delayed Quote.12.16%
EURO / BRAZILIAN REAL (EUR/BRL) 0.30% 6.1523 Delayed Quote.-2.39%
IBOVESPA 0.59% 130207.96 Delayed Quote.9.40%
LONDON BRENT OIL 0.01% 73.02 Delayed Quote.40.72%
MEXICO IPC -0.54% 51036.11 Real-time Quote.16.39%
MSCI EMERGING MARKETS 0.09% 1383.191 Real-time Quote.7.03%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 0.63% 28.75 End-of-day quote.1.45%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 95.25 Delayed Quote.13.14%
US DOLLAR / BRAZILIAN REAL (USD/BRL) 0.20% 5.0701 Delayed Quote.-1.53%
WTI -0.01% 71.024 Delayed Quote.47.25%
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Financials
Sales 2021 374 B 73 766 M 73 766 M
Net income 2021 58 520 M 11 542 M 11 542 M
Net Debt 2021 271 B 53 503 M 53 503 M
P/E ratio 2021 6,89x
Yield 2021 3,56%
Capitalization 379 B 74 826 M 74 716 M
EV / Sales 2021 1,74x
EV / Sales 2022 1,53x
Nbr of Employees 49 050
Free-Float 64,3%
Chart PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Duration : Period :
Petróleo Brasileiro S.A. - Petrobras Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETRÓLEO BRASILEIRO S.A. - PETROBRAS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Average target price 32,17 BRL
Last Close Price 28,75 BRL
Spread / Highest target 32,2%
Spread / Average Target 11,9%
Spread / Lowest Target -15,5%
EPS Revisions
Managers and Directors
NameTitle
Joaquim Silva e Luna Chief Executive Officer & Director
Rodrigo Araujo Alves Chief Financial Officer
Eduardo Bacellar Leal Ferreira Chairman
Marcelo da Silva Carreras Head-IT & Telecommunications
Marcia Tosta Head-Cyber & Information Security
Sector and Competitors
1st jan.Capitalization (M$)
PETRÓLEO BRASILEIRO S.A. - PETROBRAS1.45%74 826
SAUDI ARABIAN OIL COMPANY0.86%1 886 693
ROYAL DUTCH SHELL PLC17.22%153 277
PETROCHINA COMPANY LIMITED48.75%141 043
TOTALENERGIES SE15.82%128 286
GAZPROM31.33%90 718