14.09.2016 - Citigroup's revenue from trading may be better than expected
In Citigroup said about the increase in earnings better than expected in the third quarter. The company did not disclose details, but traditionally bugger part of trading business is in fixed income assets and less in equity trading. Despite this, revenues will be lower than in the second quarter, due to the uncertainty associated with the exit of the UK from the EU. On the other hand, the banking business will probably not reach the targets. Taking into account the likely reduction on the stock markets, we expect a drop in shares by 15-20% in the coming months.