In emerging markets, Brazil’s stock market surged after the left-leaning President Dilma Rousseff was forced into a run-off race against Aecio Neves, a centre-right challenger, who only surged in the final week of the campaign. Ms Rousseff is promising to expand Brazil’s social programmes and continue strong state involvement in the economy, while Mr Neves says he will pursue more centrist economic approaches, such as central bank independence, more privatisations and the pursuit of trade deals with Europe and the United States.
Brazil’s benchmark Ibovespa index rose 4.7% to 57,115.
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