Chinese Stocks Dominate Monday’s 10 Worst Performers

7. Petroleo Brasileiro SA – Petrobras (NYSE:PBR)

Petroleo Brasileiro dropped for a fourth consecutive day on Monday, losing 8.53 percent to end at $12.01 apiece as investors sold off on news that it was unlikely to lower its diesel prices despite a request from Brazil’s energy minister.

A report by Reuters quoting PBR CEO Magda Chambriard said that the company will not bring jitters from overseas to the Brazilian market, after reports that Brazil’s Mines and Energy Minister Alexandre Silveira requested her to consider a new cut in the average price of diesel sold to distributors in Brazil.

“We should not do anything now, while the geopolitical scenario is in such anxiety and turbulence,” Chambriard was quoted as saying in an interview with Reuters.

In other news, PBR recently completed the construction of a veterinary center in the Amazon town of Oiapoque, Amapá.

The veterinary center is intended to provide care for wildlife in the event of an oil spill.