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Why Shares of Banco Santander Brasil, Banco Bradesco, and Itau Unibanco Holding Are Rising Today

Why Shares of Banco Santander Brasil, Banco Bradesco, and Itau Unibanco Holding Are Rising Today

Shares of several Brazilian banks (and Brazilian stocks in general) rose today after results for the first round of the country's presidential election were reported. Shares of Banco Santander Brasil (NYSE: BSBR) were up roughly 9.2% as of 2:01 p.m. ET. Banco Bradesco (NYSE: BBD) climbed 10.2%, and Itau Unibanco Holding (NYSE: ITUB) traded nearly 10% higher as well.