By Darren Boey
Nov. 21 (Bloomberg) -- U.S. stock-index futures climbed as speculation mounted that a sale of Citigroup Inc. will reduce risk in a financial system struggling to cope with the fallout from the global credit crisis.
December futures on the Standard & Poor's 500 Index gained 2.8 percent to 769 as of 2:34 p.m. in Hong Kong. Dow Jones Industrial Average futures expiring the same month added 2.8 percent to 7,700, while Nasdaq-100 Index futures rose 2.4 percent to 1,064.50.
Citigroup shares gained 7.6 percent to $5.07 in extended trading, following yesterday's 26 percent slump. Executives are considering selling off pieces of the bank or the whole company, the Wall Street Journal reported on its Web site, citing people familiar with the matter.
``A merger for Citigroup can be positive because it will leave a financial institution with a far larger resource base,'' said Jonathan Ravelas, a strategist at Banco de Oro Unibank Inc. in Manila, which has more than $6 billion in trust assets under management.
To contact the reporter and editor responsible for this story: Darren Boey in Hong Kong at dboey@bloomberg.net.
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