Brazil Stock Market Tanks Amid Petrobras Scandal That Keeps On Giving [Forbes]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Forbes
Brazil Stock Market Tanks Amid Petrobras Scandal That Keeps On Giving Former Brazilian President Michel Temer (left) is seen at the international airport in Sao Paulo, Brazil, on March 21, 2019. The Prosecutors Office in Rio de Janeiro said that Judge Marcelo Breitas had issued an arrest warrant for Temer and eight others tied to the Petrobras Car Wash investigation. AP Photo/Nelson Antoine Well, that didn’t last long. There are two reasons for today's correction. One was an immediate over-reaction to news headlines, the other is a rethinking of key market-friendly reforms needed in Brazil this year. Yesterday’s arrest of former president Michel Temer reminded everyone that the Petrobras Car Wash scandal, the very scandal that led to two years of recession and a never-ending political crisis, will pull the rug out from under this country in seconds flat. Brazil stocks are now underperforming. But just wait until investors price in a failed pension reform, which is probably just three
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- UPDATE 1-Petrobras shareholders approve payout of 50% of withheld dividends [Yahoo! Finance]Yahoo! Finance
- Petrobras shareholders approve payout of 50% of withheld dividends [Reuters]Reuters