> Jailed former Brazilian president Luiz Inacio Lula da Silva, commonly known as Lula, on Tuesday stepping out of next month's presidential election. By far Brazil's most popular politician, Lula had been running his campaign from a prison cell in the southern city of Curitiba, where the leftist icon has been jailed since April, serving a 12-year sentence for receiving bribes.
Recently banned from seeking office by the country's top electoral court, Lula is passing the baton to running mate Fernando Haddad. Reuters correspondent Lisandra Paraguassu.>> In a move expected for quite some time now, Lula indicated Fernando Haddad, a former mayor of Sao Paolo, as his substitute. This change in the ticket of the Workers' Party will probably help define this election.
The party expected that Haddad will be able to inherit most of these votes.>> A new poll shows increasing popularity for Haddad, who will seek to draw enough of Lula’s voters to reach the second-round runoff. Most likely against early front runner Jair Bolsonaro, a far-right candidate who suffered a near-fatal stabbing last week.
Haddad's move in the polls spooked Brazil's financial markets, which favor candidates who would keep current president Michel Temer's austere economic reforms in place. The country's currency slumping nearly 2% against the US dollar Tuesday, with Brazil's benchmark stock index also losing nearly 2%.