Ibovespa Advances With Petrobras Before Election Poll ResultsDenyse Godoy
The Ibovespa rose for the fifth time in six days as investors awaited the results of voter polls to gauge support for President Dilma Rousseff and opposition candidate Aecio Neves in the runoff election later this month.
The MSCI Brazil/Energy Index rose the most among 10 industry groups as state-controlled Petroleo Brasileiro SA advanced. College operator Estacio Participacoes SA climbed as the number of new students on campus rose 5.8 percent in the third quarter from a year earlier.
The Ibovespa added 0.4 percent to 57,267.53 at the close of trading in Sao Paulo. The index has rallied 27 percent since this year’s low in March on speculation a change in government will reduce intervention, boost growth and slow inflation. Neves will face Rousseff in the runoff Oct. 26.
“This week has been more positive for the markets because of the expectation that election polls will show increasing support for Neves,” Alvaro Bandeira, a partner at Orama Asset Management, said by phone from Rio de Janeiro. “The market is paying attention to every piece of news regarding political alliances in the second round, and also TV ads and debates.”
Globo TV and the O Estado de S. Paulo newspaper may publish today results of the Ibope runoff poll taken Oct. 7-9 while Globo and Folha de S.Paulo may release the Datafolha poll conducted Oct. 8-9.
Neves would win the second round of Brazil’s presidential election, according to a poll published yesterday on the website of Epoca magazine. Neves has 49 percent of voter support, compared with 41 percent for Rousseff, according to the survey conducted by Parana Pesquisas, which interviewed 2,080 people in 152 municipalities Oct. 6-8. The poll has a margin of error of 2.2 percentage points.
Petrobras gained 1.7 percent to 21.20 reais. Estacio increased 2.8 percent to 27.10 reais.
Trading volume of equities in Sao Paulo was 9.4 billion reais today, according to data compiled by Bloomberg. That compares with a daily average of 6.9 billion reais this year, according to the exchange.