Citigroup Stock News

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Wall Street tumbled in volatile trading on Monday, with investors wrestling with uncertainty and bank stocks dropping following powerful Western sanctions against Russia as it continued its invasion of Ukraine. Citigroup fell 5%, helping drag the S&P 500 banks index down 2.7% as the U.S. 10-year Treasury yield slipped.

These Are The Global Banks With The Largest Exposures To Russian Sanctions Following Zoltan Pozsar''s blueprint for how the US/UK/EU sanctions unveiled over the weekend could lead to problems in the "plumbing" of the global financial ecosystem, we have seen several cracks appear already. Dollar liquidity is drying up - and thus getting more costly - especially against the Euro… And while both US and European bank stocks were clubbed like a baby seal today, we note that US bounced back modestly while Europe''s financials couldn''t managed much (despite the overall indices rebounding from deep losses)... So, the question is - which banks are most exposed to the ongoing (and escalating) threat of sanctions on Russia? Specifically, among other more arcane details, the sanctions relate to: (1) freeze of assets, (2) capabilities of certain largest Russian banks to process transactions and (3) proposed ban of certain payment avenues (SWIFT). While the Russian banks have been in freefall recently (most especially the sanctioned ones)...

Citigroup became the latest bank to be probed by the U.S. Securities and Exchange Commission in an industry-wide enquiry over employees using communication channels not approved by the company, it disclosed in a regulatory filing on Monday.

Investors just got some concerning information about the bank''s Russia exposure.

Citigroup Inc. joined the list of banks being investigated over employee communications using unauthorized messaging services.

(Bloomberg) -- Citigroup Inc. said it had $9.8 billion in domestic and cross-border exposure to Russia as Western nations level sanctions against the country for its invasion of Ukraine.

The sanctions imposed on Russia also complicate Citigroup’s attempt to sell its consumer bank in the country.

NEW YORK , Feb. 28, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for SQ, TDOC, OXY, C, and UPST. … Full story available on Benzinga.com

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Citigroup (C) disclosed a total exposure of $5.4B in Russia, the 21st of its top 25 country exposures, the U.S.-based money center bank listed in its 10-K late Friday.The amount…

Futures Bounce From Overnight Lows As New Peace Talks Begin Global stocks and US futures tumbled on Monday, although they were well off their worst levels as a fresh round of ceasefire talks kicked off on Monday morning offering a glimmer of hope that hostilities will end; sovereign bonds rallied and commodities surged amid heightened uncertainty after a new wave of sanctions against Russia for the invasion of Ukraine. March contracts on the S&P 500 Index declined as much as 2.9% before trimming losses to 1%, or down 43 points as of 745 a.m. in New York. Futures on the Nasdaq 100 and the Dow were each down 1.4%. European stocks also recovered from an earlier as banks with exposure to Russia led declines, while utilities and defense stocks gained. Oil, natural gas, wheat and palladium jumped, as Brent crude soared to about $103 a barrel on fears of commodity-supply disruptions. Rallies in the dollar, gold and Treasuries underlined the demand for havens. Over the weekend, Western nations agreed on new sanctions to further isolate Russia, by seeking to prevent its central bank from using foreign reserves to blunt sanctions and excluding some Russian lenders from the SWIFT messaging system that underpins trillions of dollars worth of transactions.

Citigroup said Monday it has $5.4 billion in asset exposure to Ukraine, according a Reuters report that cited regulatory filings from the bank. The exposure totals about 0.3% of Citigroup''s 2021 bank assets, the regulatory filing said. Citigroup also disclosed $8.2 billion of third party exposure to Russia. "Sanctions and export controls, as well as any actions by Russia, could adversely affect Citi''s business activities and customers in and from Russia and Ukraine," Citi said in a separate filing. Shares of Citigroup fell 2.2% in premarket trades on Monday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

BlackRock with ticker code (BLK) now have 12 analysts covering the stock. The analyst consensus points to a rating of ''Buy''. The range between the high target price and low target price is between 1141 and 791 with the average target price sitting at 1013.42. With the stocks previous close at 731.79 this would indicate that there is a potential upside of 38.5%. The 50 day MA is 839.59 while the 200 day moving average is 881.45. The market cap for the company is $114,070m. Visit the company website at: https://www.blackrock.com [stock_market_widget type="chart" template="basic" color="green" assets=BLK" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $157,970m based on the market concensus. BlackRock is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.