Itau Unibanco Holding S.A. Sponsored ADR Pfd Stock News

Shares of Brazilian companies tumbled Monday following the unexpected re-election of President Luiz Inácio Lula da Silva.

Shares of Brazilian companies tumbled Monday following the surprise re-election of President Luiz Inácio Lula da Silva.

Brazilian markets prepared for one outcome and received another. Luiz Inácio Lula da Silva won a fourth term in Sunday's runoff, beating Flávio Bolsonaro with 51.8% of valid votes to 48.2%, a margin of about 4.4 million ballots.

Brazil's presidential election is powering optimism in the country's stock market — and capturing the attention of investors wary of having too much exposure to the U.S. stock market.

Brazil-based bank Itaú Unibanco Holdings S.A. has secured preliminary approval from the Office of the Comptroller of the Currency (OCC) to establish a new national bank in the United States called Itaú Bank, National Association, the OCC said in an Aug. 14 corporate decision.

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Itau Unibanco NYSE: ITUB reported what Chief Executive Officer Milton Maluhy Filho called a “very strong” first quarter of 2026, with managerial net income of BRL 12.3 billion, up 10% from a year earlier, as profitability remained high despite margin headwinds tied to an early dividend payment and calendar effects.