Brazil’s Stock Market Rallies With Judge Moro’s Nomination

Investors are encouraged not only with the nomination of the Lava Jato judge to occupy the Justice Ministry but also the economic austerity measures announced by the new administration.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Brazil’s main stock market, Bovespa, surged on Wednesday, after the announcement that Lava Jato (Carwash) judge, Sergio Moro, had accepted newly-elected president Jair Bolsonaro’s invitation to become the Minister of Justice and Public Security, starting January 1st. The Bovespa Index reached an all-time record high during the day before closing at 88,419 points, an increase of 1.14 percent for the day.

According to analysts, the nomination of Subscribe to our Premium Membership Plan. Already Subscribed?