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Stock impact report

Citi Expects Q3 Fixed-Income, Equity Trading Revenue to Drop: Report [TheStreet.com]

Barclays PLC (BCS) 
Company Research Source: TheStreet.com
Citi Expects Q3 Fixed-Income, Equity Trading Revenue to Drop: Report A Citigroup ( Get Report Citi's shares on Monday rose 4.3% to $68.78. Bank stocks on Monday were broadly higher, as the yield on the 10-year Treasury note rose to 1.632% from 1.552%. Those higher yields can widen the difference between what a bank earns on loans and pays out on deposits, ultimately boosting profit. Bloomberg News quoted Chief Financial Officer Mark Mason as saying that Citi's traders battled market volatility in August. Bloomberg cited U.S.-China trade tensions and Brexit concern as key factors roiling markets. Mason also told the Barclays PLC conference that the quarter's investment-banking revenue was also likely to decline from the year-earlier period. And Bloomberg quoted Mason as saying that the bank now expects net interest revenue for the full year to rise 3% to 4%, compared with an earlier expectation of 4%. The KBW Bank Index rose 3.5% on Monday. Major movers within the index included Bank o Show less Read more
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