(Bloomberg) -- Offshore investors poured money into Brazilian stocks the day after the first round of voting, buoyed by former President Luiz Inacio Lula da Silva’s narrower-than-expected lead over incumbent Jair Bolsonaro. Most Read from BloombergMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Loretta Lynn, Coal Miner's Daughter And Country Queen, DiesStocks Take Breather After Furious Rally From Low: Ma
Brazil is braced for a tense presidential runoff after a closely fought first-round vote set up a showdown between two of Latin America’s most divisive politicians. While leftwing challenger Luiz Inácio Lula da Silva came out on top with 48.4 per cent of valid ballots cast on Sunday, incumbent leader Jair Bolsonaro will be buoyed by a performance that defied many assumptions. The far-right populist surprised pundits by claiming a 43.2 per cent share of the vote, higher than most opinion polls had predicted.
* Latam currencies up 0.1%; stocks add 1.1% * Investors confident Brazil to stay on course after vote * Polls suggest Lula will beat incumbent Bolsonaro on Oct. 2 * Latam stocks, FX set for slim quarterly gains By Bansari Mayur Kamdar Sept 30 (Reuters) - Currencies and stocks of resource-heavy Latin American countries are set for slim gains this quarter, outperforming their emerging market peers, while Brazil's real slipped on Friday ahead of the country's general elections. Regional currencies advanced 0.1% in early trading on Friday, and 0.2% for the quarter. "It's a combination of higher commodity prices and also attractive interest rate carries in Latin America," said Brendan McKenna, international economist and FX strategist at Wells Fargo Securities.