Although pollsters in Brazil got it right with President Dilma Rousseff victory and the growth tendency of runner up Aecio Neves in the last days leading to Sunday's presidential election, they failed dismally in percentage estimates.
Brazil’s PTG Pactual Bank and the China Construction Bank are at the forefront of the initiative to buy up the 1.6 billion dollars of debt which Argentina owes “holdouts” NML-Elliott and Aurelius, according to a report from Buenos Aires Ambito Financiero, the country's leading financial newspaper.
The International Monetary Fund cut its global economic growth forecasts for the third time this year, warning of weaker growth in core Euro zone countries, Japan and big emerging markets like Brazil.
The Sao Paulo stock exchange soared 4.7% on Monday with the Bovespa index reaching 57.115 points following Sunday's presidential election when no candidate managed 50% of ballots, opening the way for a runoff between pro-business Aecio Neves and president Dilma Rousseff.
The multi-party coalition that currently supports Brazilian president Dilma Rousseff lost ground in Sunday's election but will keep its majority in Congress following on the results released by the country' Superior Electoral Tribunal, TSE.
The social-democrat (PSDB) governor from the state of Sao Paulo, Brazil's largest electoral district, Geraldo Alckim was re-elected on Sunday with 57,7% of ballots, which ensures a strong spring board for the presidential runoff between president Dilma Rousseff and her PSDB challenger on 26 October, Aecio Neves.
Brazil's unpredictable election took another twist Sunday, with populist President Dilma Rousseff forced into a runoff race as expected, but against a center-right challenger who only surged in the final week of the campaign.
Latin American currencies weakened on Friday after strong U.S. jobs data was seen as increasing the likelihood of higher interest rates in the world's largest economy, while Brazil markets fluttered in the last trading session before Oct. 5 elections.
Brazilian President Dilma Rousseff has extended her lead over environmentalist Marina Silva ahead of Sunday's Oct. 5 presidential election and would win a likely second-round runoff, a new poll showed on Thursday.
According to Argentina's leading and most influential financial newspaper, Ambito Financiero, Brazil, via the private sector could come to the rescue of Argentina in its ongoing dispute with the speculative funds in the New York court presided by Judge Thomas Griesa.