State Companies recover $7.2 bn

The state-owned companies gained strength and recovered part of the losses of recent days, shows survey conducted by Economática. The companies totalled R$ 39.6 billion ($7.2 bn) in gains in market value. Eletrobras took off 10.81%, while Petrobras preferred shares rose 12.17% and common shares soared 8.96%. Banco do Brasil, another one hit by the Bolsonaro government’s political meddling crisis, jumped 6.92% to R$30.43 ($5.5).

Source: Money Times