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)