Brazilian stocks hit record highs on October 5 after senator Flavio Bolsonaro finished ahead of President Lula in the first round, Hurriyet reported, citing AFP. A runoff was implied by the first-round framing.
Brazilian stocks rose to record highs on October 5 after a first-round presidential result in which senator Flavio Bolsonaro finished ahead of incumbent Luiz Inacio Lula da Silva, Hurriyet Daily News reported, citing AFP.
Bolsonaro, son of former president Jair Bolsonaro, has promised fiscal austerity and a smaller state as public debt rises. Jerson Zanlorenzi of BTG Pactual told AFP investors see him as more aligned with Brazil's fiscal needs. The real also strengthened against the dollar, the report said.
Hurriyet noted that inflation had eased to 4.44 percent year on year in July, inside the official target range, according to IBGE, and that unemployment had fallen to historic lows during Lula's third term. It also said households were complaining about purchasing power and that the policy rate stood at 13.75 percent.
The dispatch did not include the official vote percentages or the electoral court's certified totals. Those figures are omitted here rather than inferred.
The market move is the verified event in this source. A second-round date was not stated in the article used.
People Sentiments Mixed
- Zanlorenzi said investors see Bolsonaro as more aligned with fiscal needs
- Report noted household complaints about purchasing power