Citigroup shares surged as a lot as 11%, their finest day since November 2020, after the lender beat analyst expectations for each income and earnings on the again of a blowout quarter from its buying and selling division. In the meantime, Wells Fargo & Co. climbed 7.9% as buyers regarded previous the financial institution’s worse-than-expected high and backside strains figures and as an alternative centered on its 16% enhance in internet curiosity revenue. The KBW Financial institution Index rose 4.8%, outpacing positive aspects by the broader S&P 500 Index.
