Citigroup Rallies Another 5%, 2nd Best Gain in the SP500

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Citigroup Rallies Another 5%, 2nd Best Gain in the SP500

Published on Thursday, 11 March 2010 18:22 Written by Danny Miller

CITI New York, March 11^th (TradersHuddle.com) – Shares of Citigroup (NYSE:C) jumped 5.56% to $4.18, posting the second biggest gain in the S&P 500 index.

Citigroup (NYSE:C), moved higher after its CEO, Vikram Pandit, said that the troubled bank will be consistently profitable. The bank helped lead the rally in the banking sector as investors speculated that financial reform may get stuck in the gridlock in congress.

Citigroup shares have been on an impressive upswing, soaring 19.4% this week, as investors have jumped on one of the undervalued stocks in the sector that provides exposure to emerging markets.

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