Brazil's EWZ fund jumped more than 11% after Flávio Bolsonaro's 47.03% edged Lula's 45.16% in Sunday's first-round vote, forcing an October 25 runoff, even as Brazil's inflation forecast rose for a third straight week and business activity fell to a one-year low.
The real jumped as investors priced Flávio Bolsonaro’s first-place finish, the first time Lula has failed to lead a presidential first round since 1998. Source
Markets delivered their verdict on Brazil's election before the ballots were fully tabulated. Senator Flávio Bolsonaro finished Sunday's first round with 47.03% against incumbent Luiz Inácio Lula da Silva's 45.16%, according to the Superior Electoral Court (TSE), a result that ran ahead of final private polling and forced a runoff on 25 October.
