Repsol (REP) NewsBite - Repsol Plunges on PBR Warning

Posted on Tuesday, April 15, 2008 11:08 AM

Repsol YPF (REP) opened at 40.99. So far today, the stock has hit a low of 40.98 and a high of 41.54. REP is now trading at 41.02, down 2.42 (-5.90%). The stock hit its 52 week high of 44.85 in April and set its 52 week low of 27.86 in January. REP has been generally higher for the past year. Shares of Repsol have been falling with other energy producers after Brazilian oil company Petrobrasileiro (PBR) cautioned late yesterday that further exploration is needed to assess the size of its Carioca field. The announcement stirred worries about energy companies doing business in Brazil, including Repsol. Technical indicators for the stock are bullish and steady while S&P gives REP a neutral 3 STARS (out of 5) hold rating. We will just watch this one for now. There are no bearish trades that we like for REP. [RHF - Seven Summits Strategic Investments NewsBite]