Brazilian Stocks Move Higher Two Days Before the Presidential Runoff

As the runoff approaches in Brazil the stocks in this country moved higher, the Brazilian companies reported third-quarter earnings, while the investors squared away positions.

Two days before the second round of elections, Dilma Rousseff is heading toward a great victory, as a public opinion research credits her with 52 percent of the vote intentions, while her rival Jose Serra has 39 percent.

Another survey credits Dilma with 54 percent and Jose Serra with 44 percent.

Dilma Rousseff was appointed by the Workers’ Party and has the support of the incumbent president Ignacio Lula da Silva, one of the most popular Brazilian president ever, while Serra is the candidate of the Social Democrat Party.

Shares in the government-run company Petroleo Brasileiro moved up as the investors are waiting for Brazilian oil regulator, ANP, to announce the size of the crude oil discovery off its southeastern coast.

The discovery made in the summer this year is estimated at eight million barrels crude oil and natural gas, which would make Brazil one of the few global energy power, along with the countries in the OPEC.

Brazil is the most populated country in the Latin America and one of the richest countries in natural resources in the world.

It has been considered for a long time as a sleeping giant, as well as the biggest disappointment as years, decades and centuries went by an it didn’t leave up to the expectations set by its incredible richness.

During the last decade however signs have shown that Brazil is finally overcoming its enormous social problems (poverty, discrimination) and the lack of leadership.

With the giant waking, Dilma Rousseff’s task will be very weighty as she stands a good chance to place her country amongst the most powerful in the world of tomorrow.

Brazil’s economy is credited as the seven largest in the world and is expected to grow higher, and the country is seen along with other “economic miracles” such as China and India as the economic leaders of tomorrow.