Nu Holdings (NYSE: NU) shares jumped 11% to $14.90 in premarket trading Monday as Brazilian assets rallied after Flávio Bolsonaro finished the first round of Brazil’s presidential election 1.87 percentage points ahead of President Luiz Inácio Lula da Silva, reversing Datafolha’s final valid-vote point estimates that had Lula three points in front.
NU Is Moving With a Much Bigger Brazil Rally
NU’s move is not happening in isolation. The iShares MSCI Brazil ETF was pointing to a double-digit gain. U.S.-listed Brazilian shares were also sharply higher: Vale rose about 6%, Bradesco and Itaú Unibanco gained more than 10%, and Petrobras’ U.S.-listed shares advanced about 8% in premarket trading.
Datafolha’s final poll showed Lula with 45% of valid votes and Flávio Bolsonaro with 42%, although the pollster classified the result as a technical tie within its ±2-point margin of error.
