Brazilian ETFs listed in Europe jump after Bolsonaro wins election By Reuters

© Reuters. Brazilian ETFs listed in Europe jump after Bolsonaro wins election

LONDON (Reuters) – Brazilian exchange-traded funds (ETFs) listed in Europe surged on Monday after Jair Bolsonaro emerged victorious in Brazil’s presidential election on Sunday.

Shares in the Germany-Listed ishares MSCI Brazil ETF rose 6.4 percent while the London-Listed iShares MSCI Brazil ETF (L:) leapt 6.8 percent after Bolsonaro’s election win.

Shares in Blackrock (NYSE:)’s Latin American Investment Trust (L:) also rose 6.9 percent.

Far-right candidate Bolsonaro has promised to clean up politics, shrink the state and crack down on crime, and markets hope he will embark on a series of structural reforms to boost Latin America’s largest economy after nearly a decade and a half of leftist rule.

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