Petrobras shares close 9.6% higher following excellent quarterly results

Petrobras had its the third consecutive quarter with profits, after several deficits caused by the global economic slowdown during the first wave of the coronavirus pandemic.

RIO DE JANEIRO, BRAZIL - Petrobras shares closed Thursday, August 5, with a rise of almost 10% on the São Paulo Stock Exchange, boosted by the publication the day before of better-than-expected results for the second quarter of the year.

The Brazilian state-controlled oil company's ordinary shares (with voting rights) reached a peak gain of 11.8% before midday, then gave some ground to finish up 9.63% at the close of trading.

The rise was not enough to contain the decline of the Ibovespa index of the main stocks, which fell 0.14%, affected mainly . . .

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