US banks report gains but shares sink

US banks report gains but shares sink
 

Profits at JP Morgan Chase, Citigroup and Wells Fargo rose in the first three months of the year, but their shares slumped on Friday despite the gains.
JP Morgan's profits soared 35% year-on-year, with more modest increases reported at Citigroup and Wells Fargo.
Analysts said the share decline was a sign investors had already factored in some of the rise.
They were expecting more active stock markets and a lower tax rate to boost results.
Shares in all three banks sank more than 2% in early trading, providing a sour start to earnings season, when companies report quarterly performance to... read more

 
13 April 2018 in Business, Views: 57
Source: BBC
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