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How Will Brazil’s Market React To Ex-President Lula’s ‘Freedom’

11/11/19

< < Go Back

from Forbes,

11/10/19:

It’s been a nail biter for months, but the answer came on Friday from a Workers’ Party (PT) picked, and packed, Supreme Court. They voted 6 to 5 to change a ruling about prison terms that freed ex-president and PT founder Luiz Inacio Lula da Silva after roughly two years in jail on corruption charges.

The market for Brazil equities fell as much as 3.5% on the news, but recovered and closed at 3.39% instead. Brazil was the worst performing emerging market thanks to that Supreme Court ruling.

More From Forbes:

How Will Brazil’s Market React To Ex-President Lula’s ‘Freedom’