The Brazilian financial market detached from the negative international scenario and closed Thursday higher, even with oil at US$107 per barrel, which increased concerns about impacts on inflation and the path of global interest rates. The dollar retreated to R$5.10, and the Ibovespa rose 1.42%, to 188,269 points.
Analysts point out that new electoral polls showing a close race between Lula and Flavio Bolsonaro in a potential second round contributed to the market's positive reading. The Rio de Janeiro senator appears numerically ahead in some of these surveys, which influences bets on predictive market platforms and, consequently, financial indicators.
The rise in oil benefits Brazil as a crude oil exporter, increasing the country's revenues in dollars and valuing the shares of national oil companies, with emphasis on Petrobras. This external factor adds to the political-electoral scenario to boost optimism in the domestic market.
The Brazilian market started attracting foreign investors again, with analyses that began recommending "buy Brazil." The balance of foreign investments on the Brazilian Stock Exchange increased significantly in the last month, indicating a reversal of the capital flight that had been observed.
