Market welcomes Bolsonaro victory amid doubts over pension reform

Market welcomes Bolsonaro victory amid doubts over pension reform

Capital Markets Equity Brazil

Brazil's B3 Bovespa stock exchange spiked almost four points on Monday morning after the marketplace welcomed a first round victory for right-wing presidential candidate Jair Bolsonaro. Conservative Bolsonaro garnered 46% of votes for the presidency while left-wing PT candidate Fernando Haddad finished second with 29.3% of votes. Centrist candidate and market darling Geraldo Alckmin of the PSDB came a distant fourth with just 4.8% of the vote. Bolsonaro and Haddad will face-off in a second round

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