Ibovespa Futures Gain Before Publication of Voter Poll ResultsDenyse Godoy
Ibovespa futures rose as investors awaited the results of the first voter polls for the runoff presidential election later this month.
Homebuilder MRV Engenharia e Participacoes SA may move after announcing it will cancel 14 million shares held by the company. Miner Vale SA may be active as iron-ore prices slid.
Ibovespa futures contracts due this month climbed 1.5 percent to 58,180 at 9:26 a.m. in Sao Paulo. The Ibovespa 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. Opposition candidate Aecio Neves will face President Dilma Rousseff in the election runoff Oct. 26.
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.
Trading volume of equities in Sao Paulo was 10.2 billion reais yesterday, according to the exchange. That compares with a daily average of 6.9 billion reais this year.