Brazilian stocks rallied after right-wing candidate Flavio Bolsonaro edged out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points in Sunday’s election. The iShares MSCI Brazil ETF surged 12%, while U.S.-listed shares of Itau Unibanco and Banco Bradesco each soared more than 13%. PTC surged 36% after Schneider Electric agreed to acquire the company for $205 per share, valuing its equity at more than $22 billion, with the transaction expected to close by the third quarter of 2027. DraftKings, Wells Fargo and Estee Lauder also gained, boosted by upgrades from Bank of America, Morgan Stanley and Barclays respectively.
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