$PBR closed at $10.50 at the closing bell; -$.34 or -3.14%. Its price range was $11.51 at pre-market, opening around $11.15 then plummeting down to $10.41 during Wall Street's Witching Hour.
What is more shocking is to learn that the Fitch Ratings just released at the same time; gave an upgrade on the series of notes to "BBB"; the "issuance of which are backed by the royalty flows owed by oil concessionaires, predominately, PBR , and Rio De Janeiro (RJS), of which 100% flows to RioPrevidencia ( RP ), the states pension fund."
In part, the USD 1.1 billion series 2014-3 notes 'BBB', Outlook Stable and BRl 2.4 billion series 2014-2 special indebtedness interests notes affirmed at 'AAAsf(bra)', Outlook Stable.
PBR's cartel is backing a capital investment program at USD 220 billion between 2014 and 2018.
PBR is an asset to be used when the market performance is shaky. Its personality
Currently the downside calculation of price per share: $.54.