Petroleo Brasileiro SA and Centrais Eletricas Brasileiras SA, which have rallied on speculation that a change in government would reduce intervention in state-run companies, may move. Vale SA, the world’s largest iron-ore producer, may be active after Itau BBA SA cut its recommendation for the stock.
Ibovespa futures contracts due in August dropped 0.7 percent to 55,585 at 9:39 a.m. in Sao Paulo. The real lost 0.2 percent to 2.2329 per dollar. Brazilian markets were closed yesterday for a holiday.
Support for Rousseff ahead of the Oct. 5 election was 39 percent, compared with 38 percent in a previous poll this month, an Ibope survey showed yesterday. Her lead grew by 2 percentage points, the same as the margin of error in the survey of 2,002 people from June 13-15 that was commissioned by the National Industry Confederation.
Brazil’s benchmark stock gauge entered a bull market on May 7 as the slowest economic growth of any government since 1992 and above-target inflation eroded Rousseff’s support.
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