Citigroup Shares Advance as Revenue From Bond Trading Climbs
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Citigroup Inc., the third-biggest U.S. bank, rose 1.8 percent in New York trading after reporting fixed-income trading revenue that more than doubled from the fourth quarter.
Citigroup gained 59 cents to $34, after rising 27 percent this year before today. Fixed-income trading revenue jumped to $4.74 billion from $1.72 billion in the last three months of 2011 and $3.98 billion a year earlier, the New York-based company said today in a statement. David Trone, an analyst in New York with JMP Securities LLC, predicted fixed-income revenue of $2.78 billion.