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Citi perks up as volatility moderates

Jan. 14, 2019 11:59 AM ETCitigroup Inc. (C) StockXLF, BAC, JPM, GS, C, MS, WFCBy: Liz Kiesche, SA News Editor4 Comments
  • 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)

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