Petrobras breaks production record in the 3rd quarter while balance sheets and agreements move the Stock Exchange
The state-owned company produced 2.83 million barrels per day in Brazil, 12.4% above the same quarter of the previous year, on a day of balance sheets and corporate movements.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 2 MIN
Petrobras (PETR3/PETR4) focused part of the attention on today's agenda with strong operational data. According to InfoMoney, the state-owned company recorded record production in the third quarter, with 2.83 million barrels of oil per day in Brazil, a volume 12.4% above the same quarter of the previous year.
The day also brings together balance sheets from other companies. Ambev (ABEV3), Intelbras (INTB3) and Motiva (MOTV3) have already released results, and Vale (VALE3) presents its results after the market closes. For those who follow the Stock Exchange, this season of numbers acts as a thermometer for each sector.
At Raízen (RAIZ4), the matter is of a different nature. The company closed a tax agreement worth R$22.4 billion with the Federal Revenue and the Treasury. A value of this order shows the weight that tax litigation can have on companies and reinforces, for those who defend clear rules and less litigation with the Tax Authorities, the importance of tax predictability.
At Oncoclínicas (ONCO3), the company canceled the call for an extraordinary general meeting after the Court suspended the requirement for a public offering for the acquisition of shares. As a result, a shareholder meeting that had already been called is now off the agenda for now.
There were also relevant movements in the real estate and energy sectors. Neoenergia sold a 25% stake in Brasil Hidro Participações, and HBR Realty (HBRE3) acquired 83% of Helbor (HBOR3), an operation after which Helbor leaves the stock exchange.
What changes for the investor
The facts on this list require separate reading. Petrobras' record is an indicator of production, and the investor still needs to verify how this volume translates into financial results. Helbor's exit from the Stock Exchange could reduce the liquidity of shares for those who remain as minority shareholders. The suspension of the OPA requirement at Oncoclínicas keeps an open corporate issue that the market should continue to observe. The balance sheets of Vale and other companies will say more about the pace of each sector, and the Raízen agreement takes a major dispute off the table. These are possible effects, not a price assessment.
Automatically translated from Portuguese.
