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Trader`s Favorite Financial Stocks: Citigroup Inc., Bank of America Corporation, Popular, Inc., Banco Bradesco SA

Posted by admin 1007 days ago (http://emailwire.com)

(EMAILWIRE.COM, September 14, 2010 ) New York, NY-stock opened at $3.96 and was trading within the range of $3.96-$4.01. The volumes were quite high today at 458.71 million shares as compared to its daily average volume of 377.09 million shares.

At today`s closing market price, the market capitalization of the stock stood at $115.60 billion. So far this year, the stock jumped almost 20%.

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Bank of America Corporation (NYSE:BAC) jumped 2.95% to $13.95 on over 164.14 million shares. The stock has a 52-week low of $12.18. The volumes were higher today at 164.14 million shares as compared to its daily average volume of 137.56 million shares.

The Basel Committee on Banking Supervision on Sunday said banks must hold a minimum common equity of at least 7% of their risk-weighted assets. Also. under the new rules, banks would be required to increase their capital cushions to 4.5% from 2%. The banks will have less than five years to comply with the minimum common equity requirement and until Jan. 1, 2019 to meet the capital cushion requirement. The regulations, known as Basel III, were less stringent than analysts had expected.

Popular, Inc. (NASDAQ:BPOP) gained 2.84% to $2.90 on over 13.25 million shares. The volumes were high today at 13.25 million shares as compared to its daily average volume of 8.67 million shares.

Over the past 52-weeks, the stock traded within the range of $1.70-$4.22.

Banco Bradesco SA (ADR) (NYSE:BBD) gained 3.97% to $19.11 on over 13.34 million shares. The stock today made its new 52-week high of $19.11.

Banco Bradesco S.A. (the Bank) is a private sector commercial bank operating in Brazil. It offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid sized and small companies, and major local and international corporations and institutions.

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