Petroleo Brasileiro S.A. - Petrobras (PBR)

[eastunder]

Brazil Rallies: Neves Endorsed, Supported By New Poll

http://blogs.barrons.com/emergingmarketsdaily/2014/10/13/brazil-rallies-neves-endorsed-supported-by-new-poll/?mod=yahoobarrons&ru=yahoo


By Dimitra DeFotis

REUTERSHealth officials moved a man, suspected of having the Ebola virus, from the state of Parana to Rio de Janeiro. The man arrived in Brazil from Guinea Sept. 19.
Stocks in Brazil are rallying today, for two reasons behind one man, presidential candidate Aecio Neves.

Over the weekend, Neves got the endorsement of Marina Silva, the candidate who fell off the ballot in the first round of presidential elections. Investors favor Neves, and over the weekend, a poll showed that he is ahead of incumbent president Dilma Rousseff. The runoff election Oct. 26 pits Rousseff against Neves.

A poll showed Neves would have 52.4 percent of votes Oct. 26, compared with 36.7 percent for Rousseff, according to a Sensus poll released on the website of IstoE magazine, according to Bloomberg.

Despite the drop in oil prices, Petroleo Brasileiro (PBR) shares are up big this morning, with a rise of more than 8%. Shares of GOL Linhas Aereas Inteligentes (GOL) and Vale (VALE) are up roughly 3.5%, while shares of Gerdau (GGB) are up about 2%.

The iShares MSCI Emerging Markets ETF (EEM) is up 1.85% this morning, while the iShares MSCI Brazil Capped ETF (EWZ) is up more than 4%