Analysts forecast Brazil market plunge after Lula turnaround win
25 Articles
25 Articles
Analysts forecast Brazil market plunge after Lula turnaround win
Oct 26 (Reuters) - Brazilian President Luiz Inacio Lula da Silva's election victory over Flavio Bolsonaro looked set to trigger a sharp selloff in its financial markets on Monday. Brazil's stock market hit a record high after the first round of the ele...
Brazilian markets are reacting to the re-election of leftist President Luiz Inácio Lula da Silva with a massive sell-off. The local currency, the real, lost more than 12 percent against the dollar shortly after trading opened, hovering around BRL 5.60 per USD.
The dollar seeks to score four consecutive days upwards.
Brazil’s real plunges more than 8% and São Paulo stocks slump after Lula’s victory
Brazil’s real lost more than 8% against the dollar and futures on the Ibovespa index plunged 15% on Monday, in the first session after President Luiz Inácio Lula da Silva’s victory in the election runoff, a result markets had not expected. The dollar opened up 8.64% at 5.42 reais.
The financial markets react, on Monday, to the unexpected victory of President Luiz Inácio Lula da Silva in Sunday's elections against Senator Flávio Bolsonaro, the right-wing candidate preferred by most analysts. The commercial dollar opened in strong high, of 8.65%, to R$ 5.42, the highest intraday valuation since January.
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
