Petrobras Slides on Inflation and 3 Stocks at 52-Week Lows
Petrobras – Petroleo Brasileira (NYSE:PBR): Closing price $15.26
Shares touched $15.03 during Friday’s trading session, a number which was the low of the past 12 months. Inflation is rampant in Brazil, as the IPCA-15 inflation index for February posted at 0.68 percent month-over-month last week, a bit more than the 0.62 percent market concensus. Rolling 12-month inflation is presently 6.18 percent, which of course means that Brazilians are having to pay more for everything — including gasoline. Petrobras shares closed up 0.46 percent Friday at 15.26 and have been traded between $15.03 and $30.65 during the past 12 months.