Not joining in the worldwide rally today was Brazil (EWZ -0.8%), dragged down by a plunge in...

|By:, SA News Editor

Not joining in the worldwide rally today was Brazil (EWZ -0.8%), dragged down by a plunge in Itau Unibanco (ITUB -5.7%). Rising defaults forced the lender to raise provisions for bad loans by 38% as the country faces the downside of a consumer credit boom. Keep an eye on tomorrow's earnings from Banco Santander's (STD) - from Spain (with its own issues), but with large Brazilian operations.