Four Spanish stocks that dance to the rhythm of Brazil
The victory in the first round of Flávio Bolsonaro, leader of the Liberal Party, is boosting Spanish stocks with interests in the region on the Stock Exchange, as he would adopt pro-market measures.
Brazilian presidential election results caused a surge in the Spanish stock market. Companies with significant exposure to the Brazilian market, such as Santander, Telefónica, and Mapfre, saw increases between 1.43% and 4.52%. The advantage gained by Flávio Bolsonaro, with 47.1% of the votes, over Luiz Inácio Lula da Silva, with 45.1%, raised expectations of a shift towards more market-friendly economic policies.
Analysts believe this scenario could benefit Spanish companies like Santander, Telefónica, Mapfre, and Iberdrola by reducing some of the risks currently affecting their businesses in Brazil.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
