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    ELET6   BRELETACNPB7

CENTRAIS ELETRICAS BRASILEIRAS S.A.

(ELET6)
  Report
Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-11-25 pm EST
48.58 BRL   -2.10%
11/22Centrais Eletricas Brasileiras S A : MARKET ANNOUNCEMENT - Form 6-K
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11/21Brazilian state to seek privatization of power firm Copel, shares soar
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11/14Centrais Eletricas Brasileiras S A : ANNOUNCEMENT OF TRANSACTION WITH RELATED PARTY - Form 6-K
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Bolsonaro's strong showing in Brazil vote may boost markets, bankers say

10/03/2022 | 01:00am EST

SAO PAULO, Oct 3 (Reuters) - Stronger-than-expected support for Brazil's President Jair Bolsonaro in the first round of a presidential election may provide a boost for Brazilian financial markets on Monday, said bankers and analysts, as the race went to an Oct. 30 runoff.

Bolsonaro's leftist challenger, former President Luiz Inacio Lula da Silva, fell short of clinching victory in the first round of voting on Sunday. Lula's advantage of 5 percentage points was tighter than most polls had shown.

The tough result for Lula may force him to commit to more moderate economic policies, according to observers, while energizing the campaign of Bolsonaro, who has promised reforms and privatizations that excite many investors.

"I think people will see reforms as more probable and equities may have a strong rally on Monday," said Ricardo Lacerda, founder and CEO of investment bank BR Advisory Partners , adding that he thought Bolsonaro might take the lead.

Sergio Vale, chief economist at MB Associados, said he expected financial markets to cheer the prospect of a second-round vote, which "brings Lula more to the center, having to negotiate more in coming weeks."

He added that the strong showing for Bolsonaro's allies in Congress may also limit Lula's room for dramatic policy changes if he does return to the presidency.

JPMorgan analysts led by Emy Shayo Cherman had flagged in a note to clients last week that a tight race between Lula and Bolsonaro would lift markets.

"It opens up two possibilities: Lula moving more to the center, perhaps even having to indicate who his finance minister will be, and Bolsonaro's chances of winning being higher than the average of polls indicated."

Gustavo Cruz, strategist at RB Investimentos, highlighted key stocks that may react to expectations about the vote.

The prospect of an outright victory for Lula in the first round has boosted shares of for-profit education companies and homebuilders, based on bets that Lula would provide incentives for their sectors as his Workers Party has done in the past.

On the other hand, stronger odds for Bolsonaro could push up shares of state-controlled companies such as Banco do Brasil SA and Petroleo Brasileiros SA (Petrobras). Both are candidates for potential privatization after Bolsonaro handed control of formerly state-run electricity firm Centrais Eletricas Brasileiras SA (Eletrobras) to investors.

Either way, Cruz said the hard-fought race showed that neither candidate is getting a mandate for radical policies.

"Whoever is the winner, he will not have a blank check from the electorate," he said. (Reporting by Tatiana Bautzer, Andre Romani and Camila Moreira. Editing by Gerry Doyle Editing by Brad Haynes)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANCO DO BRASIL S.A. -2.31% 34.21 Delayed Quote.18.82%
BR ADVISORY PARTNERS PARTICIPAÇÕES S.A. 0.00% 12.75 End-of-day quote.-12.07%
CENTRAIS ELETRICAS BRASILEIRAS S.A. -2.10% 48.58 Delayed Quote.47.38%
EURO / BRAZILIAN REAL (EUR/BRL) 1.80% 5.6244 Delayed Quote.-12.89%
PETROBRAS -1.61% 23.86 Delayed Quote.-15.92%
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Financials
Sales 2022 33 007 M 6 161 M 6 161 M
Net income 2022 4 116 M 768 M 768 M
Net Debt 2022 34 468 M 6 434 M 6 434 M
P/E ratio 2022 30,3x
Yield 2022 2,27%
Capitalization 134 B 24 954 M 24 954 M
EV / Sales 2022 5,09x
EV / Sales 2023 4,64x
Nbr of Employees 12 126
Free-Float 67,0%
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Number of Analysts 9
Last Close Price 48,58 BRL
Average target price 66,17 BRL
Spread / Average Target 36,2%
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Managers and Directors
Wilson Pinto Ferreira Chief Executive Officer
Elvira Baracuhy Cavalcanti Presta Chief Financial & Investor Relations Officer
Ivan de Souza Monteiro Chairman
Camila Gualda Sampaio Araujo Chief Compliance Officer
Luiz Augusto Pereira de Andrade Figueira Chief Administrative & Sustainability Officer