Brazil Stocks Rocket Higher After Election: Bolsonaro's Runoff Chances Jump to More Than 80%

Source: International Business Times

Flávio Bolsonaro, the son of former President Jair Bolsonaro, finished Sunday's vote with about 47% of valid ballots, compared with roughly 45% for his opponent and current Brazilian president, Lula. Evaristo Sa/AFP via Getty Images Brazilian stocks surged as investors dramatically increased their bets that right-wing presidential candidate Flávio Bolsonaro will defeat President Luiz Inácio Lula da Silva in Brazil's October 25 runoff election, after Bolsonaro delivered a much stronger-than-expected performance in the first round. Bolsonaro, the son of former President Jair Bolsonaro, finished Sunday's vote with about 47% of valid ballots, compared with roughly 45% for Lula.