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Search resuls for: "Comerica Inc"


3 mentions found


☆ First Republic leads losses among U.S. regional banks on contagion fears
  + stars: | 2023-03-13 | by ( Medha Singh | ) www.reuters.com   time to read: +4 min
[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. REUTERS/David 'Dee' DelgadoMarch 13 (Reuters) - Shares of U.S. regional banks slumped on Monday, led by losses in First Republic Bank (FRC.N) as news of fresh financing failed to assuage bank contagion fears following the collapse of SVB Financial Group (SIVB.O) and Signature Bank (SBNY.O). The KBW regional banking index (.KRX) slipped 5.4%, and the S&P 500 banking index (.SPXBK) fell 6%. U.S. President Joe Biden vowed to do whatever was needed to address a potential banking crisis after the collapse of Silicon Valley Bank and Signature Bank. Among Wall Street lenders, Bank of America Corp (BAC.N) dropped 3.3%, Citigroup Inc (C.N) and Wells Fargo (WFC.N) slid about 6% each, while lenders in Asia and Europe plunged too.
☆ Rout in Bank Stocks Deepens Despite Emergency Measures
  + stars: | 2023-03-13 | by ( Gina Heeb | Ben Eisen | Telis Demos | ) www.wsj.com   time to read: 1 min
Shares of First Republic sold off sharply on Monday as a selloff in regional bank stocks continued. Regional bank stocks staged their deepest retreat in three years on Monday, reflecting deepening investor concern about the health of the industry following three bank failures in the past week. The KBW Nasdaq index of commercial banks dropped more than 10%, with large lenders such as Comerica Inc. and Zions Bancorp declining more than 20%. The SPDR S&P Regional Banking ETF dropped more than 15%, putting it on pace for its largest decline since 2008.
☆ First Republic shares dive on contagion fear, dragging U.S. regional banks
  + stars: | 2023-03-13 | by ( Medha Singh Tatiana Bautzer | Medha Singh | Tatiana Bautzer | ) www.reuters.com   time to read: +4 min
[1/2] A person walks past the Park Avenue location of the First Republic Bank, in New York City, U.S., March 10, 2023. There were multiple trading halts on bank shares as the KBW regional banking index (.KRX) fell 5.4%, and the S&P 500 banking index (.SPXBK) dropped 6%. Hogan said each regional bank has its own exposure to different parts of the market. He added the fate of regional bank stocks will be "case by case" as investors look to see which ones could have the most negative exposure. "First Republic Bank, which has significant exposure to the coastal real estate markets appears to be next on the list".
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