US regional lenders leap as Wall Street gains after Trump claims victory

Valley National Bancorp

06/11/2024 09:35

** U.S. regional lenders jump in premarket trading, tracking
gains on Wall Street after Republican Donald Trump claims
victory in the U.S. presidential election
    ** Citizens Financial  CFG.N  up 9% premarket, while Valley
National  VLY.O  and Zions Bancorp  ZION.O  gain 8.7% and 8.8%,
respectively 
    ** Regions Financial  RF.N , M&T Bancorp  MTB.N , U.S.
Bancorp  USB.N  and KeyCorp  KEY.N  up between 7.4% and 8%
before the bell 
    ** Trump claimed victory in the 2024 presidential contest
after Fox News projected that he had defeated Democrat Kamala
Harris 
    ** Banks will likely see a boost in investment banking fees
earned off advising on deals if Trump returns to power due to
looser anti-trust regulations, analysts have said
    ** Major U.S. banks also surge premarket, while S&P 500
futures touched a record high in sharp and broad-based rally on
Wednesday  .N 
    ** KBW Regional Banking index  .KRX  - a gauge of investor
sentiment towards the sector - was up ~7.2% YTD, as of last
close, underperforming broader markets 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))