Brazil Bovespa index erases 2014 gains as election fears mount

jueves 23 de octubre de 2014 08:38 GYT

RIO DE JANEIRO Oct 23 (Reuters) - Brazil's benchmark Bovespa stock index on Thursday erased all of its 2014 gains as investors feared President Dilma Rousseff may defeat market-favorite candidate Aecio Neves in Sunday's presidential elections.

Bets that Neves would become Brazil's next president had boosted Brazilian stocks since he recovered from a distant third place just before the first round of elections on Oct. 5 and made it to the runoff against Rousseff.

Recent polls showing Rousseff pulled ahead of Neves have left investors jittery, however. Both candidates remain statistically tied within the survey's margin of error but Rousseff seems to have a slight edge.

The Bovespa index last traded at 51,159.41 points, 2.4 percent lower on the day and 0.5 percent lower in the year-to-date. (Reporting by Walter Brandimarte, Editing by Franklin Paul)