Business

Investors celebrate Lula’s conviction as stock market has record-setting day

Investors celebrate Lula's conviction as stock market has record-setting day stock market
São Paulo’s stock market had a good performance on Jan.24

Lula’s trial had a strong impact on Brazil’s financial markets. Investors were already expecting the confirmation of the first conviction – their only doubt was whether or not the trial would finish in a 2-1 or 3-0 defeat for the former president. São Paulo’s stock market closed the day up by 3.72 percent. In the chart below, we’ve tracked the main events of the trial and their effects on the stock trade.

According to a study from Economática, a consulting company, companies listed on São Paulo’s stock market had a 100bn-BRL gain of value. Of that amount, 28.4bn BRL is...

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