Europe-listed Brazil stocks, Petrobras slip after Lula election win

German-listed shares in Brazil’s state-run oil company Petrobras slipped more than 7% in early European trade after leftist leader Luiz Inacio Lula da Silva narrowly defeated President Jair Bolsonaro in a runoff election.

Petrobras shares slipped to 12.4 euros, levels last seen in early October, although trading volumes were extremely thin, according to Refinitiv data.

Meanwhile, London-Listed iShares MSCI Brazil ETF fell 2.4% in to a one-month low.

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