Petrobras won a legal battle

Recently, Brazilian oil producer Petrobras won a lawsuit about a tax deduction of $ 1,8 billion spent on drilling back in year 2009. Besides that, company published the first-quarter results reporting net income of $ 1,417 billion, showing an increase of 20,8% in comparison to the previous quarter. Good news will have a positive effect on the company’s shares.

Over the past week, Petrobras shares rose by 10,2% and continue growing. This is good opportunity for traders to raise capital by making positive forecast. The trade will be available during American session from 14:40 to 21:00 GMT.

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