Citigroup Inc. (NYSE:C) Lends $35 million To Romanian State-Owned Utility Company

  on Jun 07,2012 Posted in Featured ,Investment Ideas
 
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Citigroup Inc. (NYSE:C) has recently provided a five-month loan valued at 125 million lei or $35 million to Romanian state-owned utility Transelectrica SA which will be used to meet certain immediate funding needs. Bloomberg reported the news citing Ziarul Financiar. The Bucharest-based newspaper cited Marian Gheorghita, the chief financial officer at Transelectrica, saying that the loan will be used as a buffer to balance payments for bills payable in 30 days.

Gheorghita told Ziarul Financiar that the costs of the loan have been added in Transelectrica’s regulated-transport tariffs. Separately, equity research analysts at Raymond James (NYSE:RJF) gave a cut in their rating on Citigroup’s stock to an “outperform” rating from a “strong-buy” rating.

According to the latest closing data, Citigroup Inc. (NYSE:C) shares rose +5.40% to settle at $27.14. Intraday trading appeared in a range of $26.01 – $27.15 while in the course of the year the stock has floated within a range of $21.40 – $43.06. The last session’s volume of 47.08 million shares competed with an average daily trading volume of 40.37 million shares.

A main competitor, Bank of America Corp’s (NYSE:BAC) shares were up +7.61% to close at $7.64. The price was recorded in a range of $7.18 – $7.77 throughout the last trading session while in the previous 12 months shares have been between $4.92 and $11.25. The last session’s volume of 356.85 million shares competed with an average daily trading volume of 183.92 million shares.

Another competitor, HSBC Holdings plc (ADR) (NYSE:HBC) traded up +4.16% in the last session closing at $41.05. The stock traded yesterday in a range of $40.16 – $41.26 while over the year the stock floated within a range of $35.72 – $51.42. The last session’s volume of 4.16 million shares competed with an average daily trading volume of 2.33 million shares.

Turning to rival JPMorgan Chase & Co (NYSE:JPM), the stock traded up +3.38% and the price moved to $33.07. Intraday trading recorded price in a range of $32.27 – $33.31 while in 52 weeks price has been floating within a range of $27.85 – $46.49. The last session’s volume of 47.98 million shares competed with an average daily trading volume of 52.70 million shares.

 



 

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