The Ibovespa was down about 0.15 percent near 205,519 in afternoon trade, and the dollar was near 4.99 reais, as dealers digested a runoff between Flavio Bolsonaro and Lula.
Brazil's Ibovespa was slightly lower on Wednesday afternoon as the local market paused after Monday's swing following the first round of the presidential election, Valor Investe reported from Sao Paulo. Around 2:40 p.m. the index was down 0.15 percent at 205,519 points. The commercial dollar was up 0.34 percent at 4.99 reais.
Valor said the dollar had closed on Tuesday at 4.98 reais, its lowest since May. Dealers were still working through the first-round result, which sent the race to a runoff between Flavio Bolsonaro of the PL, with 47.03 percent of valid votes, and President Luiz Inacio Lula da Silva of the PT, with 45.16 percent. The paper said the market was also waiting for signals on US interest rates.
The figures are an intraday reading, not a closing print. Valor also noted a sharp rise in GPA shares after approval of an out-of-court recovery plan, a separate corporate item.
No new election authority statement was included in the market note. The next political marker cited was the runoff.