Petrobras, one of the largest publicly traded companies in the country, has taken on a strong path of recovery. In the year, the company's preferred shares rose more than 160%. The market value of the company jumped nearly R $ 70 billion in January to R $ 242 billion.

This upward movement, experts had the turning point change in macroeconomic policy. The arrival of Pedro Parente to the presidency of the oil, with the implementation of a new governance and a new market strategy also changed the scenario for the company.

José Matias Pereira, a professor of economics at the University of Brasilia (UNB), explained that the company came from a governance model that led to "a company exhaustion process."

"Now we have a person with technical background," he noted. "The other side has a scenario that contributes to this, with a government willing to enforce contracts. The sum of all this is more credibility, "he said.

Fuel price

He further argued that the strategy of leaving prices free fuel to fluctuate according to the market, is an important signal for investors, contributing to the company's recovery.

Eduardo Velho, chief economist at Global Partners INVX, Petrobras is the investor's gateway. The company, on that basis, it functions as a thermometer for the Brazilian economy.

"This reversal was driven by a change in perspective in macroeconomic policy," said the economist. "In a second step, the entrance of Pedro Parente as President of the company continued to drive this recovery," he said.

The prospect that the country will reorganize public accounts, especially since the proposal on establishing a limit to the expansion of public spending , also contributed to the shares of Petrobras returned to gain momentum.

Source: Brazil Portal with information of BM & FBovespa, the UNB and INVX Global Partners