Ibovespa rises 1.4% to 188,269 on election outlook
Brazil’s Ibovespa rose 1.4% to close at 188,269 on Thursday, erasing earlier losses. The move followed the market pricing a higher probability of a change in power in October’s presidential election.
4% to close at 188,269 on Thursday, reversing earlier losses as the market priced in a greater chance of a change in power in October’s presidential election. Recent polls have shown Flávio Bolsonaro gaining ground in the race, while a shift in odds on Polymarket added further momentum to the move on Thursday. Markets link a possible Flávio Bolsonaro victory with expectations of tighter fiscal policy, while elevated domestic yields and weak business activity continue to weigh on the outlook. 8%.
2%. 1%. 1% as iron ore prices declined.