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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI China Daily Summary: Wednesday, December 11
Bolsonaro Mulls Dismissal of State-Controlled CEO
A story that has been garnering market attention is that of the potential dismissal of Banco Do Brasil's CEO Andre Brandao, following an announcement of a restructuring/downsizing plan.
The latest headlines state that Banco do Brasil hasn't received any formal communication from the controlling shareholder about any decision on an alleged removal of Brandao from office, in a regulatory filing.
However, local press are reporting Bolsonaro has made his decision to dismiss the CEO, with Guedes attempting to dissuade the President. If confirmed, this event may weaken markets' perception surrounding the progress of the privatisation agenda in Bolsonaro's government.
- Banco do Brasil share price came under further pressure earlier and remains down 3.5% this year
- Banco do Brasil SA trading volume rose to more than triple the 20-day average earlier today for that particular time of day as headlines hit the wires.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.