Brazil Daily

📈📉 Souring market mood

Good morning! Today, markets’ poor reaction to Lula’s words. A conflict of interest at COP27. Formula 1 comes back to São Paulo. And the IDB race. 

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Lula’s speech tanks Brazilian markets

Lula's speech tanks Brazilian markets
Lula spooked markets on Thursday. Photo: Marcelo Camargo/ABr

Brazil’s stock market and currency didn’t ride on the rally enjoyed by international markets on Thursday. Instead, the Ibovespa benchmark stock index had its biggest single-day drop in a year as investors reacted poorly to a speech from President-elect Luiz...

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