From the Financial Times:
"US stocks completed their fifth straight week of gains on Thursday after Wells Fargo ignited a market surge by saying it would make record profits for the first quarter of 2009...
"Wells Fargo leapt 31.7 per cent to $19.61 after it more than doubled its expectations for first quarter earnings, with the integration of the recently-purchased Wachovia going more smoothly than expected.
"This came as the banking sector in general received a lift after the New York Times reported that all 19 banks undergoing government “stress tests” were likely to pass, with Federal Reserve officials finding the financial system in better shape than expected.
"Citigroup rose 12.6 per cent to $3.04 on the news, while Bank of America jumped 35.3 per cent to $9.55 and JPMorgan picked up 19.4 per cent to $32.75."
Obviously, I'm sure it's not even necessary to mention this, since it'll be the first thing on the CEOs minds ... ahem ... but does this mean we can have our money back now, please? Oh, what's that you say, Mr. CEO? Aaah, I see, this is different money...
0 comments:
Post a Comment