Brazil's Vale falls 3 pct after Rousseff re-election, iron ore drop

lunes 27 de octubre de 2014 08:33 GYT

RIO DE JANEIRO Oct 27 (Reuters) - Brazilian miner Vale opened down 3 percent on Monday after President Dilma Rousseff won re-election and the price of iron ore dropped.

Rousseff's victory in a second round run-off was announced late on Sunday. Many investors had been backing rival candidate Aecio Neves and blame Rousseff for a stagnant economy during her tenure.

The spot price of iron ore .IO62-CNI=SI was down 0.25 percent at 79.60 dollars per tonne. (Reporting by Stephen Eisenhammer)