In Brazil, markets are optimistic about a possible victory for Flavio Bolsonaro

Optimism among investors and the market in Brazil about the possible victory of Flavio Bolsonaro. The Sao Paulo Stock Exchange closed at a record level yesterday, exceeding the threshold of 209,000 points.

The Bovespa index — which tracks the main traded stocks — rose 1.38% to 209,067 points, while the commercial dollar fell 0.79% to 4.98 reais.

This result marks the closing all-time high for the Brazilian stock market, just as the country prepares for the presidential election runoff. According to analysts consulted by the online newspaper 'Valor Econômico', the market's gains were driven by expectations of a change in economic policy, following polls by Datafolha and AtlasIntel that gave right-wing candidate Flávio Bolsonaro ahead of outgoing left-wing president Luiz Inacio Lula da Silva.