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Morning briefing: BRLA tumbles as Brazil dives on surprise Lula win 

BlackRock Latin American (BRLA) shares fell 13% after Brazilian financial markets and its currency, the real, sold off following President Luiz Inácio Lula da Silva’s remarkable comeback victory in Brazil’s election, defeating the right-wing and more market-friendly candidate, Senator Flávio Bolsonaro. The £100m investment trust slid 59p to 394.6p, losing this year’s gains. CNBC says the iShares MSCI Brazil ETF (EWZ) plunged nearly 20% in overnight trading.

Gavin Lumsden
Written By Gavin Lumsden

Head of News

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