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Brazil Markets Rally as Bolsonaro Extends Lead Before Vote

  • Real, stocks jump in negative day for emerging markets
  • Ibope shows conservative gains in first and second rounds
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Brazil's Elections and the Impact on Foreign Direct Investment
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Brazil markets jumped after a poll showed far-right presidential candidate Jair Bolsonaro got a boost a few days ahead of elections, while the support for Workers’ Party’s Fernando Haddad stalled.

The real posted the best performance among the world’s major currencies, rising as much as 1.7 percent. The benchmark Ibovespa stock index advanced 3 percent, set for the best day since February, as state-run companies Centrais Eletricas Brasileiras SA and Petroleo Brasileiro SA jumped as much as 9 percent.