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Citi Says Volatility ‘Our Friend’ as Trading Revenue Up 25%

  • Bank has seen ‘decent’ performance in equities, Morton says
  • Shares surge after trading chief’s remarks at conference
Updated on

Citigroup Inc.’s trading revenue is likely to climb more than 25% this quarter as the firm benefits from a surge in volatility across commodities and foreign-exchange markets. 

The New York-based company also has seen “decent” performance in equities trading, Andrew Morton, Citigroup’s global head of markets, said Wednesday. A 25% increase from a year earlier would trounce the 2.4% gain in trading revenue that analysts are expecting, according to a Bloomberg survey.