Brazilian stocks and the real jumped after Flavio Bolsonaro, who won the first round without a majority, advanced to a 25 October runoff against President Lula. The Bovespa's Monday gain was its largest since 2020.
Brazilian stocks, bonds and the real rose after the first round of the presidential election sent right-wing Senator Flavio Bolsonaro into a runoff against President Luiz Inacio Lula da Silva. Reuters said Latin American markets climbed on that result, and a later Reuters note put the runoff on 25 October.
BBC News, updated on 6 October, reported that with almost all votes counted Bolsonaro had about 47 percent and Lula about 45 percent, short of the majority needed to win outright. Bolsonaro is the son of former president Jair Bolsonaro, who is serving a 27-year sentence over a failed coup after the 2022 election.
Reuters said the Bovespa's near 8 percent jump on Monday was its biggest daily rise since 2020 and took the index to a record closing high.
Flavio Bolsonaro has pledged amnesty for his father and for supporters responsible for the 8 January riots if he is elected. He told supporters he was very happy to have led the first round and was confident about the runoff.
The market move prices a closer race than campaign polls had implied. A second-round result is still three weeks away.
People Sentiments Mixed
- Flavio Bolsonaro said he was very happy to have led the first round and confident about the runoff.