# Brazil ETF Gains in Tokyo After Lula Wins as Investors Welcome Smooth Election - Bloomberg

> The Brazilian real weakened as much as about 2% against the dollar before recovering to a 0.8% loss in Asian trading after Lula's election win. The iShares MSCI Brazil ETF fell 2% in US premarket trading and Petrobras shares slumped 6%.

- Date: 2022-10-31 · published 2022-10-31T12:00:00.000Z
- Category: market · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/39345-brazil-etf-gains-in-tokyo-after-lula-wins-as-investors-welcome-smooth-election
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The market reaction to the election is mostly confined to currency and equity moves. The effect on agricultural commodity prices is minimal.

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-10-31/brazil-assets-poised-to-outperform-after-smooth-election-process

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.