Financials Gain After Breakthrough in Trade Talks - Financials Roundup
Dow Jones05-13
Shares of banks and other financial institutions rose sharply after a breakthrough in talks between the U.S. and China, which resulted in a reprieve from tariffs.
"It's a 90-day pause so there's a lot that needs to be done in the next 90 days," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Italian bank UniCredit lifted its guidance for the year after first-quarter earnings beat analysts' expectations, boosted by higher fee income.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 12, 2025 17:20 ET (21:20 GMT)
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