Petrobras ADRs Were Quoted 23.55% Below Friday Close in Premarket

Petrobras’ New York-listed American depositary shares were quoted 23.55% below Friday’s close before Monday’s U.S. open after Brazil’s presidential runoff, though the quote was only a premarket snapshot.

The shares ended the Oct. 23 session at $26.16, rising $0.54, or 2.11%, from the previous close. At 5:37 a.m. ET (09:37 UTC) Monday, Oct. 26, PBR was quoted at $20.00. That was an early trading snapshot, not a Monday closing price.

Brazil’s Superior Electoral Court declared President Luiz Inácio Lula da Silva the winner of Sunday’s presidential runoff. Lula received 64,256,232 votes, or 51.79% of valid votes, while Flávio Bolsonaro received 59,826,041 votes, or 48.21%.

Bybit’s PBRUSDT perpetual contract references Petrobras’ U.S.-listed shares and trades around the clock. The synthetic derivative can have a different price from the stock.

Petrobras plans to publish third-quarter production and sales figures on Oct. 28 and financial results on Nov. 10. Both are scheduled after the market close.