- It is unclear how many striking Brazilian truckers will return to work today after Brazil’s government said last night that it had reached an agreement with several unions to temporarily halt a four-day strike but one of the country’s biggest unions said it would continue the work stoppage.
- The Brazilian Association of Truckers, which says it represents 700K of Brazil’s ~1M independent drivers, walked out of talks yesterday and rejected the agreement.
- Petrobras (NYSE:PBR), whose shares plunged 15.3% in yesterday's trade following its controversial decision to cut diesel prices by 10% for 15 days, +2.2% premarket as CEO Pedro Parente pledged there would be no more fuel price cuts.
- The government reportedly has proposed to compensate PBR for up to 1B reais ($274M) in losses if the company maintains a 10% reduction in diesel prices for 60 days.
- ETFs: EWZ, BRZU, BRF, EWZS, BZQ, BRAQ, UBR, BRAZ, DBBR, FBZ
- Now read: Emerging Markets April 2018 Recap And Outlook: Look Beyond The Headlines
Original article