Citigroup Gains Buoy Markets

Posted by admin on Mar 12th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Citigroup Gains Buoy Markets Stocks rallied to a third straight gain on Thursday, buoyed late in the day by bullish comments from Citigroup's chief executive. After trading in the red for most of the day, the Dow Jones Industrial Average rose 44.51 points, or 0.4%, at 10611.84. At its low, this index was down 60.16 points amid worries about economic reports out of Washington and China. Citigroup shares jumped 5.6% after Chief Executive Vikram Pandit forecast that the bank's return on assets in its core businesses would grow this year and reiterated that the government plans to sell its Citigroup shares some time this year. Talk of a possible sale, which would free Citigroup from government oversight, has pushed the bank's shares higher in recent days. Citigroup has now rallied for six straight trading days and is up 22.9% in that time. AFP/Getty Images Market Data Center Most Actives | Gainers | Losers New Highs and Lows | Money Flows Intraday Futures | Currencies Data: Overview | Treasurys | Forex | Crude | Gold Trading in Citigroup represented more than one-fifth of the market's overall volume as 1.[Read more...]

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