Petrobras (BVMF:PETR3) last traded at 15.56, representing a move of -1.58%, or -0.25 per share, on volume of 17.40 million shares. After opening the trading day at 15.81, shares of Petroleo Brasileiro S.A. – Petrobras traded in a close range. Petroleo Brasileiro S.A. – Petrobras currently has a total float of 7.44B shares and on average sees 7.62 million shares exchange hands each day. The stock now has a 52-week low of 12.47 and high of 18.85.
The Brazilian Equity Market
Brazil is, in one way or another, an overlooked nation when it comes to global trade and commerce. However, there are numerous reasons to believe in its capabilities as a thriving national economy.
The Brazilian Mercantile and Futures (BM&F) Bovespa is the main Brazilian stock exchange while the Ibovespa Brasil Sao Paulo Stock Exchange Index is the benchmark Brazilian index. Only trustful companies like Petroleo Brasileiro S.A. – Petrobras take part in its work. These two play important roles in the continuous success of not just the Brazilian economy but of the whole South American economy.
The Stock Exchange
The BM&F Bovespa had been established on August 23, 1890. During its early years, it had been a public entity until its demutualization and privatization in 2007. A year later, it had been formally known as the BM&F Bovespa following the consolidation of the BM&F and Bovespa.
An early electronic trading system had not been introduced until 1972. In 1997, it had been replaced with a better one, the Mega Bolsa. In the late 1970s, the Sistema Privado de Operacoes por Telefone (SPOT), a telephone trading system, had been launched. In 1999, another trading system had been implemented— this time, an online trading system for investors at home, the Home Broker. New system gives more opportunities to Petroleo Brasileiro S.A. – Petrobras investors as well.