Brazil markets rally after post-poll slump

Brazil's President Dilma Rousseff delivers a speech during a meeting with workers of Brazilian state-run oil giant Petrobras in Rio de Janeiro, on September 11, 2013Brazilian stocks rose Tuesday, recovering some ground lost the previous day as traders digested the re-election of left-wing President Dilma Rousseff. Sao Paulo’s benchmark index was up 1.8 percent in mid-morning trading, with volume also on the rise compared with a Monday session when stocks plunged six percent at the opening bell and closed down 2.77 percent. On the currency market, the Brazilian real — which had slid to a nine-year low on Monday — added 1.33 percent to stand at 2.490 to the dollar, as analysts pondered who Rousseff would select as finance minister for her second term. Rousseff, 66, narrowly saw off Social Democrat challenger Aecio Neves, the market favorite, in a run-off election Sunday.

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