The Brazilian real’s volatility is near the highest since May amid concern political turmoil will make it impossible for President Dilma Rousseff to pare deficits and avoid a junk credit rating. Swings between losses and gains in the past week added to the risk for investors wanting to take advantage of the highest interest rates... Continue Reading →
Brazil’s real ends six-day slump; Petrobras sinks Bovespa
Fri Aug 7, 2015 2:26pm EDT EMERGING MARKETS-Brazil's real ends six-day slump; Petrobras sinks Bovespa By Asher Levine SAO PAULO, Aug 7 Brazilian financial markets swung widely on Friday as investors digested disappointing corporate results, central bank currency intervention, U.S. labor data and political turbulence. The Brazilian real rose for the first time after a... Continue Reading →
Petrobras Webcast Presentation 2Q 2015
Attached below is Webcast Presentation of the 2Q 2015 Results/ Webcast-2T15- Ingles
UPDATE 1-Petrobras to seek regulatory approval for fuel unit IPO
In a securities filing distributed early on Friday, Petrobras said the listing of BR Distribuidora would depend on global and domestic market conditions. Petrobras will pursue all the necessary authorizations from securities industry watchdog CVM as well as other regulatory agencies to carry out the transaction, the filing said. Petrobras did not specify terms of... Continue Reading →
Brazil – Junk Rating Looming
Latin America's largest economy has a 70 percent chance of losing its investment grade rating in the next few years, according to the median estimate in a Bloomberg News survey of economists. Standard & Poor's said last week it may downgrade the country's rating and revised its outlook to negative from stable. Brazil's bonds are... Continue Reading →
Real Leads Declines as Brazil Central Bank Support Falls Short
The central bank almost doubled the amount of foreign-exchange swap contracts that it will offer to roll over Friday after a reduction in early July. Ibovespa futures dropped after Petroleo Brasileiro SA, the state-controlled oil company at the center of a burgeoning corruption scandal, reported earnings that trailed forecasts. The real dropped for a seventh... Continue Reading →
PETROBRAS FIRST HALF 2015 RESULTS
PETROBRAS - FIRST HALF 2015 RESULTS Rio de Janeiro – August 6, 2015 - FIRST HALF OF 2015 RESULTS - Reviewed by independent auditors, stated in millions of Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board – IASB (a free translation of the original in... Continue Reading →
Petrobras – Settlement of Tax Contingency
Petrobras - Settlement of Tax Contingency 08/06/2015 Rio de Janeiro, August 6, 2015 – Petróleo Brasileiro S.A. – Petrobras hereby announces that, due to the publication of Joint Ordinance RFB/PGFN n. 1064 and Regulatory Instruction 1576 on August 3, 2015, decided to include in said program the processes related to Financial Operations Tax on loans... Continue Reading →
Oil’s $4.4 Trillion Hole
It rankles when you lose $20. But hey, at least it isn’t $4.4 trillion. That is roughly how much revenue the world’s oil producers will forego over the next three years, based on the current outlook for prices and demand, relative to what was expected just a year ago. With Brent crude having tumbled back... Continue Reading →
Downgrade fears rattle Brazil credits
Brazilian debt prices took another sharp leg down on Thursday as fears intensified that the sovereign will be demoted to junk-rated territory. Faith in Brazil's ability to get its fiscal house in order is fading as the popularity of President Dilma Rousseff plummets in the polls and Congress resists spending cuts. The latter problem was... Continue Reading →
