Ibovespa Surges to 5-Month High on Bolsonaro Election Odds

Brazil's Ibovespa closed sharply higher despite a 6% jump in Brent crude, reversing early losses as investors priced in a more favorable electoral outcome for Flávio Bolsonaro. The index reached its highest nominal close since April, driven by domestic political sentiment overriding global risk aversion. The move reflects market optimism over a potential Bolsonaro victory in October, though the election outcome remains uncertain.