Shares of Brazil's Petrobras dip after surprise capital spending surge
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Petrobras shares fell 4% on the Sao Paulo exchange after the company announced capital expenditures 15% above its 2024 guidance, surprising analysts.
February 27, 2025 | 2:00 pm
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Petrobras shares fell 4% due to a surprise 15% increase in 2024 capital expenditures, which was above the company's guidance and caught analysts off guard.
The unexpected increase in capital expenditures suggests potential changes in Petrobras's financial strategy, which may concern investors about future profitability and cash flow. This led to a 4% drop in share price.
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