The San Paolo bag open this Monday with a decrease of 2.12%after the victory of the former Brazilian president Luiz Inacio Lula da Silva in the second round of presidential elections on President Jair Bolsonaro.
The Ibovespa index, a reference for Brazilian parquet, has begun to operate in full high volatility and stood at 112,000 basis points.
In the foreign exchange market, the US dollar appreciated about 0.3% in Brazil and was traded at 5.31 reais for purchase and sale, at the commercial exchange rate.
With 100% of the ballot boxes counted, Lula won the presidential election by a small margin, receiving 50.9% of the votes against 49.1% obtained by the far-right leader.
The papers of the state-owned companies fall
After the first minutes of the session, the square of San Paolo moderated the losses, while remaining in negative territory, with strong drops for major state-owned companies, including Petrobras and Banco do Brasil.
Shares of Petrobras, one of the flagships of the São Paulo Stock Exchange, plummeted by more than 7% at the opening.
Lula announced during the campaign that it does not intend to privatize the oil company and that it intends to modify the fuel price policy, currently determined by the fluctuations of the international market.
The securities of Banco do Brasil, the largest public finance institution in the country, they also opened in red and produced about 5%.
The president-elect also stressed in the campaign that the state must be the “inductor” of economic recovery of the country, even if to reassure the markets it has promised to be responsible from a fiscal point of view.
Instead, there is uncertainty among economic agents as to what the reaction of Bolsonaro will be, who had not commented on the election results until late Monday morning.
Lula, a symbol of the Latin American left, will again assume the Presidency of Brazil on January 1, 2023 for a third term, after having governed the country between 2003 and 2010.
EFE
ap
Source: Clarin
