Positive news out of Brazil to start the week has provided the country’s stock market with a much-needed boost. The first round of voting resulted in the incumbent and favorite Dilma Rousseff getting 41.6 percent of the votes and her pro-business rival Aécio Neves acquiring a very surprising 33.6 percent. Marina Silva came in third with 21 percent.
Since any president in the country must have greater than 50 percent of the votes to be elected, Rousseff and Neves will have a "run off," and will have to fight for the 21 percent that backed Silva.
Rally
The rally in the stock market was likely caused by the surprising support for Neves, who was widely written off as a contender. Running under the Brazilian Social Democratic Party (PSDB), Neves is a business man who has pushed for increased trade and lower government spending; he's what many people believe will help bring Brazil out of its current economic downturn.
Brazilian stocks have been up across the board this week, and some ...
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