- Brazil stocks bounced back in today's trade, propelled by Petrobras (NYSE:PBR) after the appointment of CFO Ivan Monteiro as its new CEO reduced concerns of government meddling in the state-owned oil company.
- PBR shares ended +5.6%, rising as much as 8.5% today after collapsing 37% over the last two weeks amid the nationwide truckers strike against high diesel prices that ultimately forced the resignation of CEO Pedro Parente.
- Credit Suisse (SIX:CSGN) analyst Regis Cardoso said Monteiro was the best possible pick to push through with PBR's turnaround, although doubts still linger over the company's independence and its pricing policy; the firm maintained a Neutral rating on the stock.
- Cia Siderúrgica Nacional (NYSE:SID) soared +15% after Credit Suisse upgraded shares to Outperform from Neutral, citing the steelmaker's deleveraging efforts.
- Also: GGB +3.9%, ITUB +2.6%, BSBR +2.4%, BBDO +2.3%, CBD +1.8%, BAK +0.4%, VALE +0.2%.
- ETFs: EWZ, BRZU, BRF, EWZS, BZQ-OLD, BRAQ, UBR, BRAZ, DBBR, FBZ
- Now read: 26 'Safer' Monthly Paid U.S. Exchange Dividend Stocks Have Cash To Cover April Payouts
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