The commercial dollar rose 1.60% at 9:10 am this Monday, (31), quoted at R$ 5.3870, in the first reactions of the financial market to the result of the presidential elections in Brazil. Brazilian stocks listed abroad fell.
Petrobras shares listed in the United States suffered some of the biggest losses, with a drop of more than 10% in pre-opening trading, while Banco Bradesco lost 5%, the same as the iShares MSCI Brazil ETF, Reuters reported.
Luiz Inácio Lula da Silva (PT) became this Sunday (30) the first Brazilian to be elected three times for the Presidency of the Republic. The PT won the second round of the dispute by defeating the current chief executive, Jair Bolsonaro (PL).
Lula received 50.9% of the valid votes, and Bolsonaro, 49.1%. It is the smallest difference in Brazilian history since the 1985 redemocratization. In 2014, Dilma Rousseff (PT) beat Aécio Neves (PSDB) by 51.64% to 48.36% in the final round.
Financial market analysts assessed, before the opening of negotiations on the Stock Exchange, that Lula’s victory had already been embedded in stock prices, which closed down last week.
They also pointed out that the performance of the most important financial indicators to measure investors’ confidence in the economy —Ibovespa, dollar and interest rates— will depend on the president-elect’s indications on how the economy is going and, in addition, on the reaction of Bolsonaro and his supporters to the decision. defeat.
In his first speech as president-elect, Lula strengthened the prospect of a coalition government, with a more stable future for Brazil, according to economists Arminio Fraga, former president of the Central Bank, and Edmar Bacha, one of the fathers of the Real Plan.
Investors this Friday (28) increased sales of shares with great weight on the Stock Exchange, while they largely reinforced purchases of cheap papers linked to retail and education.
This exchange of assets led the Ibovespa to close the day with a slight drop of 0.09%, at 114,539 points, accumulating a weekly loss of 4.5%, contrary to the recovery of the main indexes abroad.
On the last day of negotiations before the second round of the presidential elections, the movement in the domestic market was interpreted by analysts as an attempt by investors to include in their portfolios stocks with greater potential for appreciation in the event of Lula’s victory.
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