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HU3 - Huntington Bancshares Inc News Story

€8.7 -0.1  -0.6%

Last Trade - 2:35pm

Large Cap
Market Cap £7.87bn
Enterprise Value £15.77bn
Revenue £3.58bn
Position in Universe 106th / 1038

BUZZ-U.S. banks rebound for now with regionals in lead

Fri 17th April, 2020 9:25pm
** Some of the biggest U.S. banks soared on Friday even as they
continued to report weak results in a rebound with the broader
market following massive declines
    ** In the S&P 500 bank subsector index  .SPXBK  Citizens
Financial  CFG.N  led the charge with an intraday gain of 18%
and a 15.5% gain at the close followed by percentage gains in
the teens from banks including Comerica Inc  CMA.N , Huntington
Bancshares  HBAN.O , Keycorp  KEY.N , Fifth Third  FITB.O ,
Truist Financial  TFC.N  and Citigroup  C.N 
    ** The biggest laggard in the index was First Republic Bank
 FRC.N  with a 5% gain
    ** "Banks have been hit hard this week and after big bank
earnings they got sold very hard. People were expecting bigger
blowups from banks today and we didn't get anything really
awful," said R.J. Grant, head of trading at Keefe, Bruyette &
Woods in New York, who specializes in trading financial stocks
    ** But Grant said the trade lacked enthusiasm: "It seems to
be a bit of a relief rally. We're not seeing investors excited
to rush into banks right now."
   ** SPXBK notched gain of 9.3% for the session but still ended
the week down 7.6% and is 37.8% in the red YTD

 ((; +1 (646) 223 6186; Reuters
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