©Reuters. The Sao Paulo stock market rises 4.50% in the middle of the session, after the elections
Sao Paulo, Oct 3 (.).- The Sao Paulo stock market rose 4.50% this Monday in the middle of the session and its index jumped to 114,983 points, in an escalation motivated by the reflection of the results of the elections held on Sunday in the country
The rise, which places the Ibovespa close to the 115,000-point bar, was driven by the rise in shares of state-owned companies, such as the oil company Petrobras (NYSE:) or the Banco do Brasil (BVMF:).
Investors were encouraged by the prospect of balance in the presidential elections, which could lead both candidates to align themselves more to the center and seek consensus for the second round.
The preferred shares of the state oil company Petrobras, of great weight in the square, were the most traded in the middle of the day and advanced 7.35%.
Former president Luiz Inácio Lula da Silva, with 48.43% of the valid votes, and the current president, Jair Bolsonaro, who obtained 43.20% on Sunday, will compete for the head of state in the second round on December 30. october.
With the general euphoria, this Monday, 90 of the 92 securities that make up the Ibovespa sight market operated on the first trading day of October in positive territory.
The foreign exchange market was also impacted by the electoral scenario and the Brazilian real rose 4.00% against the dollar, with each greenback trading at 5.177 reais at the commercial exchange rate.