- Citigroup (NYSE:C) revives 3.8% after its chief financial officer says the trading environment started to improve this month.
- "Volatility has somewhat moderated and both equity prices and yields have shown signs of stabilization," CFO John Gerspach told reporters on a call.
- The bank reported earlier that FICC revenue sank 39% in Q4 vs. Q3 as market volatility kept investors on the sidelines. Its shares had declined as much as 1.7% soon after the market opened.
- Banks, overall, perked up after an initial decline Monday morning. The Financial Select Sector SPDR ETF (NYSEARCA:XLF) is up about 0.6% at midday.
- Citi's peers are also in the green: Morgan Stanley (MS +0.8%), Bank of America (BAC +0.8%), JPMorgan (JPM +0.7%), Goldman Sachs (GS +0.5%), and Wells Fargo (WFC +0.3%).
- Previously: Citigroup revenue misses on ugly quarter for fixed income (Jan. 14)