Posts Tagged ‘petr4’
[Chart] PETR4 15/05/2010
As any other stock PETROBRAS is trading in very volatile environment at the moment. The stocks lost ~18% this year already despite very positive news including the discover of an offshore area holding approx. 4,5 bln bbl of oil and a second discover in the Potiguar Well. On top of this Petrobras reported a quarterly rise in profit of 23% on Friday after markets closed. Net income rose to 7.73 billion Reais ($4.3 billion), or 88 centavos a share, from 6.29 billion Reais, or 72 centavos, in the year-earlier period. All together very positive fundamentals which should give the stock some upwards potential next week providing markets (including crude oil) can stabilize. Read more: [Chart] PETR4 15/05/2010
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