LatinNews Daily - 09 October 2018

*The Brazilian markets surged following the results of the first round of the 7 October presidential election. The São Paulo stock exchange (Ibovespa) rose by 4.57% on 8 October, while the US dollar depreciated against the real, closing the day at R$3.77/US$1, a two-month low. Shares of Brazilian state-owned companies soared, with for example oil company Petrobras’ shares rising by 11.02%. Far-right candidate Jair Bolsonaro, who is the markets’ preferred candidate and has promised to privatise all state-owned companies, is expected to win the presidential run-off against leftist Fernando Haddad.

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