While the two rivals didn’t interact directly in the debate, they took time while answering questions from moderators and other candidates to criticize each others’ platforms. Silva said she wouldn’t base her campaign on attacks and said the president had failed to publish a plan for a second term, while Rousseff said Silva’s pledge to give the central bank legal independence poses a threat to financial stability.

Silva has 43 percent of voter support in an Oct. 26 runoff, compared to 40 percent for Rousseff, according to the Sept. 13-15 poll of 3,010 people that has a margin of error of plus or minus 2 percentage points. It was published last night on Jornal Nacional television. Silva had 43 percent support and Rousseff 42 percent in the last Ibope poll published Sept. 12 by the National Industry Confederation.

 

Eoin Treacy's view

Governance really is everything and the market is betting that a government not led by Dilma Rousseff will be a better option for investors. Following years of disappoint and some conspicuous bankruptcies the stock market is in need of a bullish catalyst and a positive election result might just be what people have been waiting for to participate once more. 

The UK listed, Sterling denominated, JPMorgan Brazil Investment Trust is currently trading at a discount to NAV of 9.4% and is firming from the region of the 200-day MA following its recent pullback.