Biden Unveils $1.9tn Aid Package
Jobless Numbers Spike The dollar had a choppy session on Thursday. However, it [...]
Trading news
State Street loses $1 trillion in custody assets to JPMorgan
State Street Corp (N:STT) shares on Wednesday tumbled as much as 7.5 percent on a double dose of bad news: the bank reported a 3.4 percent drop in fourth quarter revenue and rival JPMorgan Chase & Co Inc (N:JPM) announced poaching more than $1 trillion in custody assets.
Boston-based State Street is the world's No. 2 custody bank with $28.8 trillion in assets under custody and administration. But that figure could shrink more than 3 percent after JPMorgan announced on Wednesday that it was chosen by BlackRock Inc (N:BLK) to be custodian for more than $1 trillion in assets.
The announcement came as State Street reported total revenue of $2.53 billion in the fourth quarter, a 3.4 percent decline from the year-earlier period.
State Street shares tumbled to $74.46 at the opening bell, a 7.5 percent drop from Tuesday's close of $80.52. But the stock recovered some of that lost ground, rising to $77.48.
Wednesday, 25 Jan, 2017 / 4:02
Source : https://www.ag-markets.com/news/
Trading news
Muted Moves In Metals Following Heavy Sell-Off
Gold Following the volatility last week as gold sold off in response to the [...]
Biden’s $1.9 trillion stimulus plan sparks profit-taking
Stock markets drift lower as Biden’s relief plan raises [...]
