October 8, 2018 / 8:32 AM / 2 months ago

Europe's Brazil ETFs leap after Bolsonaro dominates election 1st round

LONDON, Oct 8 (Reuters) - Europe's Brazil-focused exchange-traded funds (ETFs) leapt between 6.2 and 6.8 percent in early deals on Monday after far-right, former Army captain Jair Bolsonaro won nearly half the votes in the first round of presidential elections on Sunday.

In what is likely to be a deeply polarizing runoff, Bolsonaro, an outspoken apologist for Brazil's 1964-1985 military dictatorship, will now face leftist Fernando Haddad, the former mayor of Sao Paulo, in a second round of voting on Oct. 28.

Two of the London-listed iShares MSCI Brazil ETFs climbed 6.8 and 6.2 percent respectively while Xtrackers MSCI ETF was up 6.3 percent. (Reporting by Marc Jones; editing by Helen Reid)

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