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Financials Up, But Gains Capped By Stimulus-Talk Worries -- Financials Roundup

09/25/2020 | 06:17pm

Shares of banks and other lenders and money managers recouped some of their recent losses but gains were limited by uncertainty over the outlook for another round of economic stimulus.

It was another volatile trading session on Wall Street, which saw the Dow Jones Industrial Average fall by more than 100 points before rallying into the green on the week, then easing somewhat late in the session.

Shares of global banks such as HSBC and Deutsche Bank remain under pressure after revelations that regulators had flagged billions of dollars of transactions because of suspected links to money laundering and other malfeasance in recent years.

China Evergrande Group's bonds and shares came under a second day of heavy selling pressure on Friday, as investor concerns grew about the large property developer's financial health despite its efforts to calm such worries.

Citigroup said Jeff Walsh would retire as interim controller and chief accounting officer and named Johnbull Okpara as his successor.

 

Write to Rob Curran at rob.curran@dowjones.com

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