BUZZ - Boosted by market sentiment from Bolsonaro’s strong performance, Brazilian ADR prices rise
路透社2026/10/05 09:06October 5 – As Brazil's right-wing senator Flávio Bolsonaro outperformed expectations in the first round of the presidential elections on Sunday, shares of Brazilian companies listed in the U.S. rose in pre-market trading (link). Bolsonaro held a narrow lead over the incumbent president Luiz Inácio Lula da Silva, with both set to compete in a runoff on October 25. The senator is the son of right-wing former president Jair Bolsonaro. “Bolsonaro's stronger-than-expected performance, coupled with a rightward shift in Congress, should support Brazil’s benchmark stock index Ibovespa and put downward pressure on long-term yields,” said Andrés Abadía, Chief Latin America Economist at Pantheon Macroeconomics. Shares of state-owned oil company Petrobras (PBR.N) rose 10.4%, while Latin America's largest private bank Itau Unibanco (ITUB.N) climbed 11.2%. Banco Bradesco (BBD.N) increased 10.8%, and aircraft manufacturer Embraer (ERJ.N) gained 6.3%. Brazilian e-commerce and fintech company MercadoLibre (BBD.N) and digital bank Nu Holdings (NU.N) rose 6.8% and 10.4% respectively. The iShares MSCI Brazil ETF (EWZ.P) was up 11.6%. As of the previous trading session, Brazil’s benchmark Bovespa Index (.BVSP) had gained over 19% year-to-date. (For the convenience of non-English speakers, Reuters automates the translation of its reports into several other languages. Automated translations may contain errors or may not provide needed context; Reuters does not guarantee the accuracy of automated translation texts and provides them solely for reader convenience. Reuters accepts no liability for any damage or loss caused by the use of automated translation functions.)
October 5 - ** As Brazilian right-wing senator Flavio Bolsonaro outperformed expectations in the first round of Sunday’s presidential election, shares of Brazilian companies listed in the US rose in pre-market trading (link)
** Bolsonaro is narrowly ahead of incumbent President Luiz Inacio Lula da Silva, with both set to face off in a runoff election on October 25
** The senator is the son of former right-wing President Jair Bolsonaro
** “(Bolsonaro’s) stronger-than-expected performance, together with a rightward shift in Congress, should support Brazil’s benchmark Ibovespa stock index and put downward pressure on long-term yields,” said Andres Abadia, Chief Latin America Economist at Pantheon Macroeconomics
** State-run oil company Petrobras PBR.N rose by 10.4%, while Latin America’s largest private bank, Itau Unibanco ITUB.N, climbed 11.2%
** Bank Banco Bradesco BBD.N gained 10.8%, and aircraft maker Embraer ERJ.N was up 6.3%
** Brazilian e-commerce and fintech company MercadoLibre (BBD.N) and digital bank Nu Holdings (NU.N) saw their share prices increase by 6.8% and 10.4% respectively
** iShares MSCI Brazil ETF EWZ.P rose 11.6%
** As of the previous trading day’s close, Brazil’s benchmark Bovespa index (.BVSP) has gained more than 19% year to date
(For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated text. It is provided solely for reader convenience. Reuters accepts no responsibility for any damage or loss caused by use of automated translation functionality.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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