IBOV 175,707.73 ▼ 0.53% IPSA 10,945.86 ▼ 0.71% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,251,266 ▲ 0.68% COLCAP 2,294.60 ▼ 0.18% BVL PERÚ 57,174.37 — — USD/BRL5.08▲ 0.12% USD/MXN17.38▼ 0.25% USD/CLP924.31▼ 0.24% USD/COP3,221▼ 0.46% USD/PEN3.38▼ 0.23% USD/ARS1,476▲ 0.34% USD/UYU40.15▲ 1.04% USD/PYG6,039▲ 1.28% USD/BOB10.65▲ 5.99% USD/DOP58.27▼ 0.05% USD/CRC447.49▲ 0.88% USD/GTQ7.62▲ 2.09% USD/HNL26.73▼ 0.01% USD/NIO36.62▲ 0.31% USD/VES723.93▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▼ 0.33% USD/TTD6.76▲ 1.32% EUR/BRL5.82▼ 0.67% BRENT 84.77 ▲ 0.05% WTI 79.36 ▲ 0.03% IRON ORE 161.91 — — COPPER 6.34 ▲ 0.22% GOLD 4,042 ▼ 0.47% SILVER 57.25 ▼ 2.59% SOY 1,200 ▼ 0.60% CORN 469.50 ▲ 8.24% WHEAT 678.00 ▲ 7.41% COFFEE 325.35 ▼ 3.51% SUGAR 14.86 ▼ 0.13% ORANGE JUICE 136.65 ▼ 2.57% COTTON 82.13 ▲ 3.18% COCOA 5,914 ▲ 4.49% BEEF 230.00 ▼ 0.62% CATTLE 343.83 ▼ 1.43% LITHIUM 70.71 ▼ 1.22% PETR4 40.37 ▼ 0.71% VALE3 74.38 ▲ 0.50% ITUB4 43.18 ▼ 1.03% BBDC4 18.54 ▼ 0.48% ABEV3 15.55 ▼ 1.64% BBAS3 20.62 ▲ 0.15% B3SA3 15.71 ▲ 2.48% WEGE3 43.87 ▼ 0.75% PRIO3 57.25 ▼ 0.56% SUZB3 41.33 ▲ 0.54% RENT3 40.29 ▼ 0.62% AZZA3 18.71 ▼ 0.74% CSAN3 3.86 ▼ 0.77% RAIZ4 0.30 ▼ 3.23% PCAR3 2.43 ▼ 0.82% GMAT3 3.96 — 0.00% PSSA3 55.24 ▲ 1.75% CVCB3 1.37 ▼ 0.72% POSI3 3.91 ▼ 2.01% SLCE3 13.46 ▼ 2.53% NATU3 8.61 ▲ 0.70% BRKM5 6.41 ▼ 6.15% RANI3 8.00 ▼ 0.12% CSNA3 5.14 ▼ 1.15% CMIN3 5.12 ▲ 0.39% USIM5 8.08 ▼ 1.82% GGBR4 23.92 ▲ 2.57% ENEV3 26.88 ▼ 1.07% CPFE3 46.78 ▼ 0.89% CMIG4 11.16 ▼ 0.36% EQTL3 40.50 ▼ 1.10% LREN3 14.12 ▼ 1.19% VIVT3 35.52 — 0.00% RAIL3 13.99 ▼ 0.99% KLABIN 17.36 ▲ 0.23% RAIA DROGASIL 18.61 ▲ 0.05% RDOR3 35.82 ▼ 0.64% HAPV3 10.92 ▼ 2.41% FLRY3 16.42 ▲ 0.06% SMTO3 15.45 ▼ 4.16% UGPA3 30.53 ▲ 1.39% VBBR3 33.41 ▲ 0.33% BBSE3 40.53 ▲ 0.35% BPAC11 57.11 ▼ 1.45% CURY3 33.06 ▼ 1.58% AERI3 2.04 ▼ 1.45% VIVARA 23.39 ▼ 0.17% COMPASS 25.01 ▼ 0.75% VAMOS 3.07 ▼ 2.54% SANB11 27.19 ▼ 0.55% ASAI3 8.71 ▲ 0.58% SBSP3 30.05 ▼ 0.96% WALMEX 49.84 ▲ 1.16% GMEXICO 200.00 ▲ 0.22% FEMSA 223.45 ▼ 2.56% CEMEX 22.52 ▲ 1.44% GFNORTE 184.56 ▼ 0.88% BIMBO 57.36 ▲ 1.77% TELEVISA 9.57 ▲ 0.42% AMX 22.72 ▼ 0.57% GAP 395.17 ▼ 0.02% ASUR 282.79 ▲ 2.60% OMA 235.04 ▲ 0.01% KOF 175.74 ▼ 2.31% GRUMA 279.98 ▲ 0.21% KIMBER 38.69 ▲ 0.65% SQM-B 65,350 ▼ 3.76% COPEC 6,219 ▲ 0.14% BSANTANDER 77.42 ▼ 1.55% FALABELLA 5,905 ▲ 0.51% ENELAM 84.86 ▼ 1.04% CENCOSUD 2,020 ▼ 0.97% CMPC 1,083 ▼ 1.80% BANCO CHILE 187.00 ▼ 1.32% LATAM AIR 25.15 ▲ 1.00% YPF 77,575 ▼ 0.26% GGAL 8,055 ▲ 1.83% PAMPA 5,170 ▼ 1.15% TXAR 668.00 ▲ 0.91% ALUAR 955.00 ▲ 0.63% TGS 9,670 ▼ 0.41% CEPU 2,328 ▲ 0.04% MIRGOR 16,975 ▲ 1.34% COME 45.53 ▼ 0.48% LOMA NEGRA 3,558 ▲ 0.71% BYMA 302.25 ▲ 0.42% TELECOM ARG 4,328 ▼ 0.12% ECOPETROL 16.05 ▼ 0.68% BANCOLOMBIA 81.71 ▼ 0.48% GRUPO AVAL 5.01 ▲ 1.13% CREDICORP 396.97 ▲ 1.21% SOUTHERN COPPER 178.20 ▼ 2.29% BUENAVENTURA 30.41 ▼ 2.00% MERCADOLIBRE 1,841 ▼ 1.76% NUBANK 14.06 ▲ 0.46% XP 17.01 ▲ 0.83% PAGSEGURO 9.20 ▼ 0.92% STONE 11.26 ▼ 0.35% GLOBANT 31.96 ▲ 3.35% TECNOGLASS 45.12 ▲ 2.00% GAP AIRPORT 227.50 ▲ 0.69% ASUR 282.79 ▲ 2.60% OMA AIRPORT 108.20 ▲ 0.52% AMX ADR 26.03 ▼ 0.57% FEMSA ADR 128.44 ▼ 3.55% CEMEX ADR 12.97 ▲ 1.29% PETROBRAS ADR 17.73 ▼ 1.06% VALE ADR 14.62 ▲ 0.17% ITAU ADR 8.49 ▼ 0.73% SANTANDER BR 5.37 ▼ 0.46% AMBEV ADR 3.03 ▼ 1.94% CSN 1.01 ▼ 1.94% GERDAU 4.73 ▲ 2.49% LATAM ADR 54.65 ▲ 2.12% BTC 65,005 ▲ 0.08% ETH 1,922 ▲ 1.70% SOL 77.64 ▼ 0.16% XRP 1.11 ▲ 0.16% BNB 579.07 ▼ 0.46% ADA 0.16 ▼ 0.68% DOGE 0.07 ▼ 0.70% AVAX 6.70 ▲ 0.04% LINK 8.51 ▲ 2.02% DOT 0.85 ▼ 0.32% LTC 45.18 ▼ 0.56% BCH 227.51 ▼ 3.80% TRX 0.32 ▼ 0.46% XLM 0.19 ▲ 1.83% HBAR 0.07 ▲ 0.59% NEAR 2.07 ▲ 3.18% ATOM 1.56 ▲ 0.13% AAVE 96.60 ▼ 2.31% SELIC 14.25% EMBRAER 81.41 ▼ 1.31% EMBRAER ADR 64.05 ▼ 1.32% JBS 12.13 ▲ 2.49% JBS BDR 61.51 ▲ 2.95% MBRF3 15.25 ▼ 5.22% MBRFY 3.02 ▼ 3.82% INTER 5.62 ▼ 1.40% EGX 52,558 ▲ 0.50% USD/ZAR16.32▼ 0.36% USD/NGN1,379▼ 0.25% NIKKEI 68,752 ▲ 1.49% CSI300 4,787 ▼ 0.20% HSI 24,681 ▲ 1.40% NIFTY 24,079 ▲ 0.11% KOSPI 7,284 ▲ 6.24% JCI 6,042 ▲ 0.04% USD/JPY162.11▼ 0.09% USD/CNY6.76▼ 0.20% DAX 25,000 ▼ 0.59% CAC 8,382 ▲ 0.19% FTSE 10,516 ▼ 0.13% MIB 52,411 ▼ 0.85% IBEX 19,276 ▼ 0.42% STOXX 642.71 ▲ 0.10% EUR/USD1.15▲ 0.32% GBP/USD1.35▲ 1.40% SPX 7,556 ▲ 0.16% DJI 52,578 ▲ 0.13% NDX 29,415 ▼ 0.58% RUT 2,971 ▲ 0.21% TSX 35,371 ▲ 0.14% VIX 16.17 ▼ 2.00% USD/CAD1.40▼ 0.12% US10Y 4.5510 ▼ 0.74% IBOV 175,707.73 ▼ 0.53% IPSA 10,945.86 ▼ 0.71% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,251,266 ▲ 0.68% COLCAP 2,294.60 ▼ 0.18% BVL PERÚ 57,174.37 — — USD/BRL 5.08 ▲ 0.13% USD/MXN 17.38 ▼ 0.25% USD/CLP 924.31 ▼ 0.24% USD/COP 3,221 ▼ 0.46% USD/PEN 3.38 ▼ 0.23% USD/ARS 1,476 ▲ 0.34% USD/UYU 40.15 ▲ 1.04% USD/PYG 6,039 ▲ 1.28% USD/BOB 10.65 ▲ 5.99% USD/DOP 58.27 ▼ 0.05% USD/CRC 447.49 ▲ 0.88% USD/GTQ 7.62 ▲ 2.09% USD/HNL 26.73 ▼ 0.01% USD/NIO 36.62 ▲ 0.31% USD/VES 723.93 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.98 ▼ 0.33% USD/TTD 6.76 ▲ 1.32% EUR/BRL 5.82 ▼ 0.67% BRENT 84.77 ▲ 0.05% WTI 79.36 ▲ 0.03% IRON ORE 161.91 — — COPPER 6.34 ▲ 0.22% GOLD 4,042 ▼ 0.47% SILVER 57.25 ▼ 2.59% SOY 1,200 ▼ 0.60% CORN 469.50 ▲ 8.24% WHEAT 678.00 ▲ 7.41% COFFEE 325.35 ▼ 3.51% SUGAR 14.86 ▼ 0.13% ORANGE JUICE 136.65 ▼ 2.57% COTTON 82.13 ▲ 3.18% COCOA 5,914 ▲ 4.49% BEEF 230.00 ▼ 0.62% CATTLE 343.83 ▼ 1.43% LITHIUM 70.71 ▼ 1.22% PETR4 40.37 ▼ 0.71% VALE3 74.38 ▲ 0.50% ITUB4 43.18 ▼ 1.03% BBDC4 18.54 ▼ 0.48% ABEV3 15.55 ▼ 1.64% BBAS3 20.62 ▲ 0.15% B3SA3 15.71 ▲ 2.48% WEGE3 43.87 ▼ 0.75% PRIO3 57.25 ▼ 0.56% SUZB3 41.33 ▲ 0.54% RENT3 40.29 ▼ 0.62% AZZA3 18.71 ▼ 0.74% CSAN3 3.86 ▼ 0.77% RAIZ4 0.30 ▼ 3.23% PCAR3 2.43 ▼ 0.82% GMAT3 3.96 — 0.00% PSSA3 55.24 ▲ 1.75% CVCB3 1.37 ▼ 0.72% POSI3 3.91 ▼ 2.01% SLCE3 13.46 ▼ 2.53% NATU3 8.61 ▲ 0.70% BRKM5 6.41 ▼ 6.15% RANI3 8.00 ▼ 0.12% CSNA3 5.14 ▼ 1.15% CMIN3 5.12 ▲ 0.39% USIM5 8.08 ▼ 1.82% GGBR4 23.92 ▲ 2.57% ENEV3 26.88 ▼ 1.07% CPFE3 46.78 ▼ 0.89% CMIG4 11.16 ▼ 0.36% EQTL3 40.50 ▼ 1.10% LREN3 14.12 ▼ 1.19% VIVT3 35.52 — 0.00% RAIL3 13.99 ▼ 0.99% KLABIN 17.36 ▲ 0.23% RAIA DROGASIL 18.61 ▲ 0.05% RDOR3 35.82 ▼ 0.64% HAPV3 10.92 ▼ 2.41% FLRY3 16.42 ▲ 0.06% SMTO3 15.45 ▼ 4.16% UGPA3 30.53 ▲ 1.39% VBBR3 33.41 ▲ 0.33% BBSE3 40.53 ▲ 0.35% BPAC11 57.11 ▼ 1.45% CURY3 33.06 ▼ 1.58% AERI3 2.04 ▼ 1.45% VIVARA 23.39 ▼ 0.17% COMPASS 25.01 ▼ 0.75% VAMOS 3.07 ▼ 2.54% SANB11 27.19 ▼ 0.55% ASAI3 8.71 ▲ 0.58% SBSP3 30.05 ▼ 0.96% WALMEX 49.84 ▲ 1.16% GMEXICO 200.00 ▲ 0.22% FEMSA 223.45 ▼ 2.56% CEMEX 22.52 ▲ 1.44% GFNORTE 184.56 ▼ 0.88% BIMBO 57.36 ▲ 1.77% TELEVISA 9.57 ▲ 0.42% AMX 22.72 ▼ 0.57% GAP 395.17 ▼ 0.02% ASUR 282.79 ▲ 2.60% OMA 235.04 ▲ 0.01% KOF 175.74 ▼ 2.31% GRUMA 279.98 ▲ 0.21% KIMBER 38.69 ▲ 0.65% SQM-B 65,350 ▼ 3.76% COPEC 6,219 ▲ 0.14% BSANTANDER 77.42 ▼ 1.55% FALABELLA 5,905 ▲ 0.51% ENELAM 84.86 ▼ 1.04% CENCOSUD 2,020 ▼ 0.97% CMPC 1,083 ▼ 1.80% BANCO CHILE 187.00 ▼ 1.32% LATAM AIR 25.15 ▲ 1.00% YPF 77,575 ▼ 0.26% GGAL 8,055 ▲ 1.83% PAMPA 5,170 ▼ 1.15% TXAR 668.00 ▲ 0.91% ALUAR 955.00 ▲ 0.63% TGS 9,670 ▼ 0.41% CEPU 2,328 ▲ 0.04% MIRGOR 16,975 ▲ 1.34% COME 45.53 ▼ 0.48% LOMA NEGRA 3,558 ▲ 0.71% BYMA 302.25 ▲ 0.42% TELECOM ARG 4,328 ▼ 0.12% ECOPETROL 16.05 ▼ 0.68% BANCOLOMBIA 81.71 ▼ 0.48% GRUPO AVAL 5.01 ▲ 1.13% CREDICORP 396.97 ▲ 1.21% SOUTHERN COPPER 178.20 ▼ 2.29% BUENAVENTURA 30.41 ▼ 2.00% MERCADOLIBRE 1,841 ▼ 1.76% NUBANK 14.06 ▲ 0.46% XP 17.01 ▲ 0.83% PAGSEGURO 9.20 ▼ 0.92% STONE 11.26 ▼ 0.35% GLOBANT 31.96 ▲ 3.35% TECNOGLASS 45.12 ▲ 2.00% GAP AIRPORT 227.50 ▲ 0.69% ASUR 282.79 ▲ 2.60% OMA AIRPORT 108.20 ▲ 0.52% AMX ADR 26.03 ▼ 0.57% FEMSA ADR 128.44 ▼ 3.55% CEMEX ADR 12.97 ▲ 1.29% PETROBRAS ADR 17.73 ▼ 1.06% VALE ADR 14.62 ▲ 0.17% ITAU ADR 8.49 ▼ 0.73% SANTANDER BR 5.37 ▼ 0.46% AMBEV ADR 3.03 ▼ 1.94% CSN 1.01 ▼ 1.94% GERDAU 4.73 ▲ 2.49% LATAM ADR 54.65 ▲ 2.12% BTC 65,005 ▲ 0.08% ETH 1,922 ▲ 1.70% SOL 77.64 ▼ 0.16% XRP 1.11 ▲ 0.16% BNB 579.07 ▼ 0.46% ADA 0.16 ▼ 0.68% DOGE 0.07 ▼ 0.70% AVAX 6.70 ▲ 0.04% LINK 8.51 ▲ 2.02% DOT 0.85 ▼ 0.32% LTC 45.18 ▼ 0.56% BCH 227.51 ▼ 3.80% TRX 0.32 ▼ 0.46% XLM 0.19 ▲ 1.83% HBAR 0.07 ▲ 0.59% NEAR 2.07 ▲ 3.18% ATOM 1.56 ▲ 0.13% AAVE 96.60 ▼ 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Wednesday, July 15, 2026

Brazil Business

Brazilians Say Lula Should Not Seek Re-election Despite His Poll Lead

By · July 15, 2026 · 5 min read

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Brazil · Politics

Key Facts

Majority Opposition A solid 51% of Brazilians believe President Lula does not deserve another term, signaling a personal re-election hurdle despite competitive polling.

Electoral Viability Even with that sentiment, the poll showed Lula leading all tested second-round scenarios, meaning voters may back him if faced with a less palatable alternative.

Approval Gap Government approval sat at 43% against 52% disapproval, a negative nine-point spread that underscores a tough re-election environment.

Trend Watch The same polling series previously found 62% opposed a re-election bid, indicating the 51% figure still represents deep public resistance.

Investor Insight Persistent negative approval ratings can pressure fiscal policy and reform momentum, key factors for market confidence and the Brazilian real.

Fifty-one percent of Brazilians say President Luiz Inácio Lula da Silva does not deserve re-election in 2026, even as the same Genial/Quaest survey shows him leading all tested second-round runoff scenarios.

Brazilians Say Lula Should Not Seek Re-election Despite His Poll Lead
Brazil · Politics
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What the Numbers Reveal

The latest Genial/Quaest poll, commissioned by brokerage Genial and released in early April 2025, found that a clear majority of Brazilians oppose a new Lula candidacy. Exactly 51% said he should not seek re-election, while a smaller share said he should and the remainder offered no answer.

This sentiment reflects personal voter fatigue or disappointment rather than a full rejection of his electoral chances. In fact, the same polling round placed Lula ahead of potential right-wing rivals in every modeled second-round matchup, a disconnect that highlights a fragmented opposition field.

Approval and Disapproval Snapshot

Government job approval stood at 43%, with disapproval reaching 52% in the matching Genial/Quaest cycle. That negative nine-point gap mirrors earlier readings and suggests a stable but underwater rating for the current administration.

A Reuters-reported poll from the same firm two days earlier, on April 2, 2025, recorded an even steeper 41% approval and 56% disapproval, described as the highest disapproval level of Lula’s three non-consecutive terms. The slight bounce to 43-52 indicates some recovery but leaves the government firmly in negative territory.

Genial/Quaest Trend Over Time

Tracking the numbers across months shows a volatile but consistently challenged approval rating. In late January 2025, approval was 47% with 49% disapproval, the first time disapproval topped approval in the current term. By mid-July 2025, Reuters reported 43% approval and 53% disapproval, followed by 46% approval and 51% disapproval in late August 2025.

The April 2026 update pegged approval at 43% and disapproval at 52%, virtually unchanged. A subsequent May 2026 reading showed a small improvement to 46% approval and 49% disapproval, suggesting modest gains that still left nearly half the electorate dissatisfied.

Electoral Scenarios and the Opposition

Despite the re-election sentiment, Lula’s competitive standing in polls has been resilient. The April 2026 Genial/Quaest survey gave a narrow edge to Senator Flávio Bolsonaro in a hypothetical second round, at 42% to Lula’s 40%, but the May 2026 update flipped that result to Lula 42%, Bolsonaro 41%.

By June 2026, Reuters reported a wider Lula lead of 44% to 38% over Flávio Bolsonaro, and a separate Datafolha poll showed Lula leading the same opponent 47% to 43% in a runoff, with a first-round advantage of 41% to 31%. These figures explain why investors cannot write off Lula’s re-election prospects despite weak popularity metrics.

Why This Matters for Residents and Investors

For expats and market participants, the gap between presidential disapproval and electoral strength carries real economic implications. A government with sub-50% approval finds it harder to push fiscal reforms through Congress, which can delay budget consolidation and affect the exchange rate.

At the same time, Lula’s polling lead suggests a polarized election where the eventual winner may govern without a broad mandate. Policy continuity, tax proposals, and public spending commitments will all be scrutinized through the lens of these shifting numbers, making Genial/Quaest updates a key watchpoint for anyone with exposure to Brazilian assets.

Sources and Methodology

Genial/Quaest is a regular public-opinion survey commissioned by the Brazilian brokerage Genial. The polls cited in this analysis were reported by Valor International, O Globo, The Rio Times, and Reuters between January 2025 and June 2026, with sample sizes and margins of error detailed in each original release.

All figures referenced here are drawn directly from those verified reports. The re-election question, approval ratings, and head-to-head runoff numbers follow the consistent format used across the Genial/Quaest series, allowing direct comparison over time.

Frequently Asked Questions

How many Brazilians say Lula should not seek re-election?

The latest Genial/Quaest poll found 51% of Brazilians believe President Lula does not deserve to run for re-election in 2026.

Does the re-election sentiment match his electoral poll numbers?

No. Despite majority opposition to a new candidacy, the same polling series shows Lula leading in multiple hypothetical second-round matchups, including a 44% to 38% lead over Flávio Bolsonaro in June 2026.

What is Lula’s current approval rating according to Genial/Quaest?

In the most recent reading covered here, approval stood at 46% and disapproval at 49%, though earlier April 2026 and April 2025 figures showed 43% approval and 52% disapproval.

Sources: Valor International: While Lula still leads poll, majority thinks he should not seek re-election, O Globo: Genial/Quaest: 52% desaprovam o governo Lula e 43% aprovam, The Rio Times: Lula Edges Flávio Bolsonaro 42% to 41% in Quaest Runoff Poll, Reuters: Brazil’s Lula widens lead over Flávio Bolsonaro ahead of presidential vote, Reuters: Brazilian President Lula’s disapproval rating hits all-time high, Reuters: Brazil’s Lula extends comeback, approval ticks up

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