Business

How Brazil became the top stock market of 2018

stock market bolsonaro brazil president

The election of Jair Bolsonaro as Brazil’s president boosted the São Paulo stock market to unprecedented levels. Ibovespa, the country’s benchmark index, hit its all-time high of 89.820 points on December 3, despite a meltdown of international markets – especially in emerging economies.

Not only the São Paulo stock exchange is one of the just four in the world to end 2018 in the positive side of zero – alongside with Argentina, India and New Zealand – but it is also, by far, the best performing global index in local currency. In other words, when...

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