Ten Brazilian state companies gained US$ 330 million (RS$ 132 billion) in market value since the beginning of October. Together, they all are worth US$ 173 billion (R$ 640 billion).
Within this time period, investors confirmed that Jair Bolsonaro (PSL) is the presidential frontrunner, winning by a large margin over the second place, Fernando Haddad (PT).
The amount surpasses state bank Banco do Brasil (US$ 30 billion, or R$ 111.8 billion), which also benefit from the upward trend.
Folha picked companies considering the most expressive valuations and insights from brokers and investment firms on the performance they could have in the stock market.
Among them, there are Petrobras, Banco do Brasil, Eletrobás, and companies under state government management.
With the recent increase, Petrobras once more is São Paulo Stock Exchange's most valued company, at US$ 100 billion (R$371.5 billion)
During the first ten days of October, Petrobras' preferred stock rose 27% and was worth US$ 7(R$26). The increase made several brokerages revise their target prices for the stock.
But Petrobras' appreciation wasn't among the highest among state companies.
Banco do Brasil's stock rose 30%, while gains for Eletrobras and Cemig are inching closer to 50% in ten days -- the Ibovespa index gained 8.5% in the same period.
Translated by NATASHA MADOV
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