The Rio Times
What Brazil's Election Means for US Investors
xCruzo Brief
Brazil’s election is set to open a market that has already moved, with the Ibovespa rising 2.6% on Friday (to 192,114.55 points) and up about 4.7% for the week. US-listed Brazilian equities followed, including the EWZ exchange-traded fund, which closed at $38.19, up 2.8%. The Brazilian real ended Friday at R$5.2223 per US$ (nearly unchanged). Among major ADRs, Petrobras preferred shares (PBR-A) closed at $19.60 and Petrobras common shares (PBR) at $21.65; Vale (VALE) closed at $13.76. The article frames two runoff outcomes after polls show Lula leading but not clearing 50%.
xCruzo quick-read summary • Source: The Rio Times • Read the full article for complete information.
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