Brazilian banks slump after election result, AB InBev also takes a hit

Investors were not pleased with Lula's victory. The São Paulo stock exchange was heading for a deep-red trading day on Monday, with banks the biggest casualties, De Standaard reports. According to De Tijd, trading was briefly halted just after the open.

The shock also reached Brussels: according to Het Nieuwsblad, shares with exposure to Brazil fell, including brewer AB InBev, for which Brazil is a key market. AB InBev publishes its quarterly results on Thursday.