The second representative of the six largest financial corporations in the U.S. bank Citigroup, presented a report on the results of its operations for the fourth quarter of 2011. Revenues and profits declined due to growing instability in financial markets. Investors reacted by selling shares in a bad report Citigroup.
Reporting Citigroup's second quarterly report negative after the end of last week to reduce the profits reported by other Finance Corporation, JP Morgan Chase. At Citigroup profit in the fourth quarter totaled $ 1.16 billion ($ 0.38 per share), which is 11% lower than in the fourth quarter of 2010, and below analysts' forecasts, who were waiting on the bank's profit in the region of $ 0.5 per share . Citigroup's revenue for the quarter also not pleased, to $ 17.2 billion, up 7% less than a year ago. Negative trend has been demonstrated in large part because of a sharp decline in unit sales trading in the market - 37% - and investbankinga - 45%. A similar pattern was observed at JP Morgan Chase. "Fears of our clients on developments in Europe have led to the fact that December was a very difficult - said Citigroup Chief Financial Officer John Hershel .- Europe remains a major threat hanging over the markets today. The clouds continued to thicken. " Weak quarterly figures Citigroup led to the fact that the results of yesterday's trading session, shares of the corporation in the U.S. fell 8.2%.
The analysts point out that the problems experienced in the fourth quarter of those American banks that are active in capital markets. "In such a situation is unpleasant banks - said in a Bloomberg TV broadcast head of investment company Loop Capital Markets James Reynolds .- In this case the banks who hold more traditional model, is doing fine." Indeed, in one day with Citigroup in the fourth quarter reported another representative of the "Big Six" of U.S. banks - Wells Fargo, whose activities are focused on retail banking. Profits of the bank rose by 20% in the first hours of trading led to the growth of quotations on the Wells Fargo 2%.
Today is expected to publish quarterly reports the largest U.S. investment bank Goldman Sachs, and tomorrow - the rest of the "big six» - Bank of America and Morgan Stanley.
Reporting Citigroup's second quarterly report negative after the end of last week to reduce the profits reported by other Finance Corporation, JP Morgan Chase. At Citigroup profit in the fourth quarter totaled $ 1.16 billion ($ 0.38 per share), which is 11% lower than in the fourth quarter of 2010, and below analysts' forecasts, who were waiting on the bank's profit in the region of $ 0.5 per share . Citigroup's revenue for the quarter also not pleased, to $ 17.2 billion, up 7% less than a year ago. Negative trend has been demonstrated in large part because of a sharp decline in unit sales trading in the market - 37% - and investbankinga - 45%. A similar pattern was observed at JP Morgan Chase. "Fears of our clients on developments in Europe have led to the fact that December was a very difficult - said Citigroup Chief Financial Officer John Hershel .- Europe remains a major threat hanging over the markets today. The clouds continued to thicken. " Weak quarterly figures Citigroup led to the fact that the results of yesterday's trading session, shares of the corporation in the U.S. fell 8.2%.
The analysts point out that the problems experienced in the fourth quarter of those American banks that are active in capital markets. "In such a situation is unpleasant banks - said in a Bloomberg TV broadcast head of investment company Loop Capital Markets James Reynolds .- In this case the banks who hold more traditional model, is doing fine." Indeed, in one day with Citigroup in the fourth quarter reported another representative of the "Big Six" of U.S. banks - Wells Fargo, whose activities are focused on retail banking. Profits of the bank rose by 20% in the first hours of trading led to the growth of quotations on the Wells Fargo 2%.
Today is expected to publish quarterly reports the largest U.S. investment bank Goldman Sachs, and tomorrow - the rest of the "big six» - Bank of America and Morgan Stanley.
No comments:
Post a Comment