IBOV 174,041.95 ▼ 1.52% IPSA 10,950.74 ▲ 0.31% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,283,854 ▼ 1.07% COLCAP 2,274.53 ▼ 0.38% BVL PERÚ 58,287.01 — — USD/BRL5.09▲ 0.06% USD/MXN17.43▼ 0.33% USD/CLP948.45— 0.00% USD/COP3,216▼ 0.02% USD/PEN3.40▼ 0.20% USD/ARS1,496▼ 0.03% USD/UYU40.14— 0.00% USD/PYG6,022— 0.00% USD/BOB11.18— 0.00% USD/DOP57.99— 0.00% USD/CRC449.17— 0.00% USD/GTQ7.63— 0.00% USD/HNL26.75— 0.00% USD/NIO36.62— 0.00% USD/VES740.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.29▼ 0.12% USD/TTD6.71— 0.00% EUR/BRL5.80▲ 0.32% BRENT 89.76 ▼ 7.25% WTI 83.40 ▼ 6.62% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.89% GOLD 4,095 ▲ 0.67% SILVER 59.68 ▲ 1.75% SOY 1,219 ▼ 2.36% CORN 474.50 ▲ 2.21% WHEAT 668.50 ▼ 1.40% COFFEE 300.35 ▼ 4.29% SUGAR 14.64 ▼ 0.88% ORANGE JUICE 142.65 ▼ 2.83% COTTON 80.17 ▲ 2.06% COCOA 5,467 ▲ 3.13% BEEF 222.50 ▼ 1.29% CATTLE 341.45 ▼ 0.68% LITHIUM 67.81 ▼ 1.75% PETR4 42.21 ▼ 1.72% VALE3 75.24 ▼ 0.58% ITUB4 42.10 ▼ 1.08% BBDC4 18.48 ▼ 1.28% ABEV3 15.64 ▼ 1.76% BBAS3 20.35 ▼ 2.77% B3SA3 15.44 ▼ 1.34% WEGE3 45.99 ▲ 0.70% PRIO3 58.82 ▼ 2.84% SUZB3 41.84 ▼ 1.39% RENT3 36.89 ▼ 0.67% AZZA3 16.65 ▼ 2.35% CSAN3 3.80 ▼ 2.56% RAIZ4 0.26 ▼ 3.70% PCAR3 2.79 ▼ 2.79% GMAT3 3.79 ▼ 2.07% PSSA3 54.78 ▼ 0.72% CVCB3 1.34 ▲ 2.29% POSI3 3.55 ▼ 3.27% SLCE3 13.64 ▼ 0.94% NATU3 8.38 ▼ 2.10% BRKM5 6.10 ▼ 1.13% RANI3 7.95 ▲ 0.25% CSNA3 5.36 ▲ 1.13% CMIN3 5.69 ▼ 2.40% USIM5 8.48 ▼ 0.12% GGBR4 24.26 ▲ 0.83% ENEV3 24.90 ▼ 3.11% CPFE3 45.09 ▼ 2.44% CMIG4 10.98 ▼ 1.88% EQTL3 38.34 ▼ 1.74% LREN3 13.27 ▼ 0.75% VIVT3 35.47 ▲ 2.22% RAIL3 13.57 ▼ 2.79% KLABIN 17.52 ▼ 0.79% RAIA DROGASIL 17.98 ▼ 1.15% RDOR3 33.38 ▼ 0.86% HAPV3 9.92 ▼ 5.25% FLRY3 16.26 ▼ 1.93% SMTO3 15.05 ▼ 4.20% UGPA3 32.71 ▼ 2.04% VBBR3 35.10 ▼ 1.40% BBSE3 41.49 ▼ 2.15% BPAC11 54.67 ▼ 2.90% CURY3 29.35 ▼ 0.91% AERI3 2.04 ▲ 0.99% VIVARA 21.42 ▼ 0.14% COMPASS 24.76 ▼ 1.28% VAMOS 3.15 ▼ 1.87% SANB11 26.34 ▼ 1.09% ASAI3 7.85 ▼ 2.12% SBSP3 28.38 ▼ 1.29% WALMEX 48.00 ▲ 1.54% GMEXICO 207.28 ▼ 0.51% FEMSA 221.92 ▼ 0.18% CEMEX 21.18 ▼ 1.40% GFNORTE 193.04 ▲ 2.14% BIMBO 58.26 ▼ 1.39% TELEVISA 9.73 ▼ 0.61% AMX 22.80 ▲ 0.18% GAP 377.44 ▲ 0.26% ASUR 267.99 ▼ 0.69% OMA 226.14 ▼ 0.51% KOF 179.29 ▼ 0.23% GRUMA 268.70 ▼ 0.09% KIMBER 39.70 ▲ 1.10% SQM-B 65,350 ▼ 0.23% COPEC 6,330 ▲ 1.12% BSANTANDER 79.32 ▼ 0.85% FALABELLA 5,990 ▼ 1.12% ENELAM 85.49 ▲ 0.58% CENCOSUD 1,958 ▼ 0.51% CMPC 1,025 ▼ 2.47% BANCO CHILE 193.10 ▲ 1.25% LATAM AIR 23.88 ▲ 1.62% YPF 82,000 ▼ 0.58% GGAL 7,890 ▼ 0.69% PAMPA 5,515 ▼ 2.04% TXAR 675.00 ▼ 0.74% ALUAR 972.00 ▼ 1.07% TGS 9,765 ▼ 2.30% CEPU 2,365 ▼ 2.27% MIRGOR 16,525 ▼ 1.20% COME 42.41 ▼ 0.28% LOMA NEGRA 3,623 ▼ 3.78% BYMA 299.75 ▲ 2.48% TELECOM ARG 4,380 ▲ 1.27% ECOPETROL 16.01 ▼ 1.96% BANCOLOMBIA 86.01 ▼ 0.90% GRUPO AVAL 4.79 ▼ 3.04% CREDICORP 388.77 ▲ 0.29% SOUTHERN COPPER 179.29 ▼ 1.61% BUENAVENTURA 30.91 ▼ 1.31% MERCADOLIBRE 1,801 ▲ 0.15% NUBANK 14.09 ▼ 0.70% XP 16.69 ▼ 0.83% PAGSEGURO 9.20 ▼ 2.75% STONE 10.76 ▼ 2.00% GLOBANT 31.30 ▲ 2.25% TECNOGLASS 45.30 ▲ 3.57% GAP AIRPORT 216.28 ▲ 0.39% ASUR 267.99 ▼ 0.69% OMA AIRPORT 103.43 ▼ 0.68% AMX ADR 26.01 ▲ 0.23% FEMSA ADR 127.12 ▲ 0.03% CEMEX ADR 12.06 ▼ 1.63% PETROBRAS ADR 18.77 ▼ 1.21% VALE ADR 14.79 ▼ 0.27% ITAU ADR 8.28 ▼ 0.84% SANTANDER BR 5.30 — 0.00% AMBEV ADR 3.06 ▼ 0.97% CSN 1.08 — 0.00% GERDAU 4.81 ▲ 0.84% LATAM ADR 50.15 ▲ 0.62% BTC 65,051 ▼ 0.44% ETH 1,959 ▲ 0.30% SOL 76.09 ▼ 0.67% XRP 1.10 ▼ 0.71% BNB 572.33 ▼ 0.38% ADA 0.16 ▼ 0.67% DOGE 0.07 ▼ 1.25% AVAX 6.62 ▼ 1.70% LINK 8.78 ▼ 0.41% DOT 0.81 ▼ 2.30% LTC 46.96 ▼ 1.74% BCH 215.10 ▼ 0.79% TRX 0.33 ▼ 0.25% XLM 0.18 ▼ 0.87% HBAR 0.07 ▼ 1.38% NEAR 1.84 ▲ 0.01% ATOM 1.39 ▼ 0.74% AAVE 101.18 ▼ 0.33% SELIC 14.25% EGX 53,885 ▲ 0.87% USD/ZAR16.70▼ 0.81% USD/NGN 1,363 — 0.00% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,994 ▲ 0.95% KOSPI 6,756 ▲ 0.97% JCI 6,159 ▼ 0.60% USD/JPY163.51▼ 0.07% USD/CNY6.77▼ 0.10% DAX 25,442 ▲ 1.37% CAC 8,411 ▲ 0.47% FTSE 10,767 ▲ 0.29% MIB 52,002 ▲ 0.39% IBEX 19,788 ▲ 1.03% STOXX 647.93 ▲ 0.53% EUR/USD1.14▲ 0.11% GBP/USD1.33▲ 0.03% SPX 7,412 ▲ 0.05% DJI 51,947 ▲ 0.46% NDX 28,128 ▼ 1.15% RUT 2,930 ▼ 0.35% TSX 35,369 ▲ 0.50% VIX 17.65 ▼ 5.01% USD/CAD1.41▲ 0.11% US10Y 4.6790 ▼ 0.51% IBOV 174,041.95 ▼ 1.52% IPSA 10,950.74 ▲ 0.31% IPC MEX 66,383.68 ▲ 0.21% MERVAL 3,283,854 ▼ 1.07% COLCAP 2,274.53 ▼ 0.38% BVL PERÚ 58,287.01 — — USD/BRL 5.09 ▼ 0.19% USD/MXN 17.43 ▼ 0.49% USD/CLP 948.45 ▲ 0.70% USD/COP 3,216 ▲ 0.11% USD/PEN 3.40 ▲ 1.89% USD/ARS 1,496 ▲ 0.47% USD/UYU 40.14 ▲ 1.06% USD/PYG 6,022 ▲ 1.17% USD/BOB 11.18 ▲ 2.82% USD/DOP 57.99 ▲ 0.79% USD/CRC 449.17 ▲ 1.55% USD/GTQ 7.63 ▲ 2.09% USD/HNL 26.75 ▲ 1.31% USD/NIO 36.62 ▲ 0.51% USD/VES 740.37 ▲ 0.59% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.08% USD/TTD 6.71 ▲ 0.68% EUR/BRL 5.80 ▲ 0.13% BRENT 89.76 ▼ 7.25% WTI 83.40 ▼ 6.62% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.89% GOLD 4,095 ▲ 0.67% SILVER 59.68 ▲ 1.75% SOY 1,219 ▼ 2.36% CORN 474.50 ▲ 2.21% WHEAT 668.50 ▼ 1.40% COFFEE 300.35 ▼ 4.29% SUGAR 14.64 ▼ 0.88% ORANGE JUICE 142.65 ▼ 2.83% COTTON 80.17 ▲ 2.06% COCOA 5,467 ▲ 3.13% BEEF 222.50 ▼ 1.29% CATTLE 341.45 ▼ 0.68% LITHIUM 67.81 ▼ 1.75% PETR4 42.21 ▼ 1.72% VALE3 75.24 ▼ 0.58% ITUB4 42.10 ▼ 1.08% BBDC4 18.48 ▼ 1.28% ABEV3 15.64 ▼ 1.76% BBAS3 20.35 ▼ 2.77% B3SA3 15.44 ▼ 1.34% WEGE3 45.99 ▲ 0.70% PRIO3 58.82 ▼ 2.84% SUZB3 41.84 ▼ 1.39% RENT3 36.89 ▼ 0.67% AZZA3 16.65 ▼ 2.35% CSAN3 3.80 ▼ 2.56% RAIZ4 0.26 ▼ 3.70% PCAR3 2.79 ▼ 2.79% GMAT3 3.79 ▼ 2.07% PSSA3 54.78 ▼ 0.72% CVCB3 1.34 ▲ 2.29% POSI3 3.55 ▼ 3.27% SLCE3 13.64 ▼ 0.94% NATU3 8.38 ▼ 2.10% BRKM5 6.10 ▼ 1.13% RANI3 7.95 ▲ 0.25% CSNA3 5.36 ▲ 1.13% CMIN3 5.69 ▼ 2.40% USIM5 8.48 ▼ 0.12% GGBR4 24.26 ▲ 0.83% ENEV3 24.90 ▼ 3.11% CPFE3 45.09 ▼ 2.44% CMIG4 10.98 ▼ 1.88% EQTL3 38.34 ▼ 1.74% LREN3 13.27 ▼ 0.75% VIVT3 35.47 ▲ 2.22% RAIL3 13.57 ▼ 2.79% KLABIN 17.52 ▼ 0.79% RAIA DROGASIL 17.98 ▼ 1.15% RDOR3 33.38 ▼ 0.86% HAPV3 9.92 ▼ 5.25% FLRY3 16.26 ▼ 1.93% SMTO3 15.05 ▼ 4.20% UGPA3 32.71 ▼ 2.04% VBBR3 35.10 ▼ 1.40% BBSE3 41.49 ▼ 2.15% BPAC11 54.67 ▼ 2.90% CURY3 29.35 ▼ 0.91% AERI3 2.04 ▲ 0.99% VIVARA 21.42 ▼ 0.14% COMPASS 24.76 ▼ 1.28% VAMOS 3.15 ▼ 1.87% SANB11 26.34 ▼ 1.09% ASAI3 7.85 ▼ 2.12% SBSP3 28.38 ▼ 1.29% WALMEX 48.00 ▲ 1.54% GMEXICO 207.28 ▼ 0.51% FEMSA 221.92 ▼ 0.18% CEMEX 21.18 ▼ 1.40% GFNORTE 193.04 ▲ 2.14% BIMBO 58.26 ▼ 1.39% TELEVISA 9.73 ▼ 0.61% AMX 22.80 ▲ 0.18% GAP 377.44 ▲ 0.26% ASUR 267.99 ▼ 0.69% OMA 226.14 ▼ 0.51% KOF 179.29 ▼ 0.23% GRUMA 268.70 ▼ 0.09% KIMBER 39.70 ▲ 1.10% SQM-B 65,350 ▼ 0.23% COPEC 6,330 ▲ 1.12% BSANTANDER 79.32 ▼ 0.85% FALABELLA 5,990 ▼ 1.12% ENELAM 85.49 ▲ 0.58% CENCOSUD 1,958 ▼ 0.51% CMPC 1,025 ▼ 2.47% BANCO CHILE 193.10 ▲ 1.25% LATAM AIR 23.88 ▲ 1.62% YPF 82,000 ▼ 0.58% GGAL 7,890 ▼ 0.69% PAMPA 5,515 ▼ 2.04% TXAR 675.00 ▼ 0.74% ALUAR 972.00 ▼ 1.07% TGS 9,765 ▼ 2.30% CEPU 2,365 ▼ 2.27% MIRGOR 16,525 ▼ 1.20% COME 42.41 ▼ 0.28% LOMA NEGRA 3,623 ▼ 3.78% BYMA 299.75 ▲ 2.48% TELECOM ARG 4,380 ▲ 1.27% ECOPETROL 16.01 ▼ 1.96% BANCOLOMBIA 86.01 ▼ 0.90% GRUPO AVAL 4.79 ▼ 3.04% CREDICORP 388.77 ▲ 0.29% SOUTHERN COPPER 179.29 ▼ 1.61% BUENAVENTURA 30.91 ▼ 1.31% MERCADOLIBRE 1,801 ▲ 0.15% NUBANK 14.09 ▼ 0.70% XP 16.69 ▼ 0.83% PAGSEGURO 9.20 ▼ 2.75% STONE 10.76 ▼ 2.00% GLOBANT 31.30 ▲ 2.25% TECNOGLASS 45.30 ▲ 3.57% GAP AIRPORT 216.28 ▲ 0.39% ASUR 267.99 ▼ 0.69% OMA AIRPORT 103.43 ▼ 0.68% AMX ADR 26.01 ▲ 0.23% FEMSA ADR 127.12 ▲ 0.03% CEMEX ADR 12.06 ▼ 1.63% PETROBRAS ADR 18.77 ▼ 1.21% VALE ADR 14.79 ▼ 0.27% ITAU ADR 8.28 ▼ 0.84% SANTANDER BR 5.30 — 0.00% AMBEV ADR 3.06 ▼ 0.97% CSN 1.08 — 0.00% GERDAU 4.81 ▲ 0.84% LATAM ADR 50.15 ▲ 0.62% BTC 65,051 ▼ 0.44% ETH 1,959 ▲ 0.30% SOL 76.09 ▼ 0.67% XRP 1.10 ▼ 0.71% BNB 572.33 ▼ 0.38% ADA 0.16 ▼ 0.67% DOGE 0.07 ▼ 1.25% AVAX 6.62 ▼ 1.70% LINK 8.78 ▼ 0.41% DOT 0.81 ▼ 2.30% LTC 46.96 ▼ 1.74% BCH 215.10 ▼ 0.79% TRX 0.33 ▼ 0.25% XLM 0.18 ▼ 0.87% HBAR 0.07 ▼ 1.38% NEAR 1.84 ▲ 0.01% ATOM 1.39 ▼ 0.74% AAVE 101.18 ▼ 0.33% SELIC 14.25% EGX 53,885 ▲ 0.87% USD/ZAR 16.71 ▼ 0.66% USD/NGN 1,363 — 0.00% NIKKEI 64,931 ▲ 0.50% CSI300 4,702 ▲ 1.15% HSI 25,207 ▲ 0.98% NIFTY 23,994 ▲ 0.95% KOSPI 6,756 ▲ 0.97% JCI 6,159 ▼ 0.60% USD/JPY 163.53 ▼ 0.16% USD/CNY 6.7663 ▼ 0.08% DAX 25,442 ▲ 1.37% CAC 8,411 ▲ 0.47% FTSE 10,767 ▲ 0.29% MIB 52,002 ▲ 0.39% IBEX 19,788 ▲ 1.03% STOXX 647.93 ▲ 0.53% EUR/USD 1.1403 ▲ 0.25% GBP/USD 1.3337 ▲ 0.14% SPX 7,412 ▲ 0.05% DJI 51,947 ▲ 0.46% NDX 28,128 ▼ 1.15% RUT 2,930 ▼ 0.35% TSX 35,369 ▲ 0.50% VIX 17.65 ▼ 5.01% USD/CAD 1.4097 ▲ 0.04% US10Y 4.6790 ▼ 0.51%
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Monday, July 27, 2026

Governor Rivalries And Reluctant Unity: How Brazil’s Right Responded To Flávio Bolsonaro’s Move

By · December 7, 2025 · 2 min read

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Key Points

1. Brazil’s main right-leaning governors reacted very differently to Flávio Bolsonaro entering the 2026 race.

2. Some rushed to back him, while others quietly kept their own national plans alive.

3. Their choices will decide whether voters see one broad alternative to the current government or a divided field.

When Senator Flávio Bolsonaro said he would run for president in 2026, the spotlight quickly shifted away from him and onto a small group of powerful state governors.

These leaders control budgets, police forces and local machines in key regions. They are the people who can turn an online movement into real votes, or let it fragment.

In Goiás, Ronaldo Caiado kept his course. He praised the Bolsonaro family’s decision, but calmly repeated that he is still in the race and wants to remove the current ruling party from power.

His message is simple: experience, order and a firmer economic hand in Brasília.

Governor Rivalries And Reluctant Unity: How Brazil’s Right Responded To Flávio Bolsonaro’s Move
Governor Rivalries And Reluctant Unity: How Brazil’s Right Responded To Flávio Bolsonaro’s Move – Alvorada Palace, the President’s resdidence.
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Governor Rivalries And Reluctant Unity: How Brazil’s Right Responded To Flávio Bolsonaro’s Move

In Minas Gerais, Romeu Zema did the same. He reminded voters that even Jair Bolsonaro once defended several right-wing names in the first round, as long as they unite later.

Zema presents himself as a pro-business manager who can fix accounts and attract investment, rather than fight cultural wars all day.

Further south, Rio Grande do Sul’s Eduardo Leite speaks to voters tired of constant shouting.

He calls for “de-radicalisation” and tries to offer a more moderate, modern face, without signing up to every agenda of the current federal government.

On the other side, two governors tied to Flávio’s party moved fast to close ranks.

Jorginho Mello in Santa Catarina and Cláudio Castro in Rio de Janeiro publicly blessed the senator as the natural standard-bearer and repeated that the priority is stopping another four years of the same national project.

Hovering over everything are two almost-silent figures: São Paulo’s Tarcísio de Freitas and Paraná’s Ratinho Junior. Both are popular, business-friendly and seen as possible future presidents.

By staying vague, they keep every door open – including the option of stepping in later if the right fails to agree on a single path.

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