Citigroup Inc (C) News: Copper Selling, CitiMortgage, & More

Editor’s Note: Related tickers: Citigroup Inc (NYSE:C)

Copper Selling Seen by Citigroup as Prices Outperform Aluminum (BusinessWeek)
Investors may sell copper as the metal used in pipes and wiring outperforms aluminum, widening the gap between their prices, according to Citigroup Inc (NYSE:C). Copper for delivery in three months traded at 3.97 times the price of the equivalent aluminum contract by 3:11 p.m. on the London Metal Exchange. The ratio reached 3.62, the lowest since January 2012, on April 23. Investors may sell copper when the gap widens to 4.0 to capitalize on the movement, according to David Wilson, an analyst at Citigroup Inc (NYSE:C) in London.

Citigroup Inc (NYSE:C)

Citigroup Names Fraser to Replace Das as CitiMortgage Chief (SFGate)
Citigroup Inc (NYSE:C), the third-largest U.S. bank by assets, named private-banking boss Jane Fraser to replace Sanjiv Das as chief executive officer of the CitiMortgage unit. Das, 51, a former Morgan Stanley executive, is leaving to pursue “other professional opportunities,” Citigroup Inc (NYSE:C) CEO Michael Corbat said today in an internal memo. Fraser, 45, was CEO of the New York-based company’s private bank for the past four years. Corbat, 53, is reorganizing Citigroup Inc (NYSE:C)’s executive team after replacing Vikram Pandit, 56, as CEO in October.

Citigroup Receives “Outperform” Rating from Sanford C. Bernstein (C) (DailyPolitical)
Citigroup Inc (NYSE:C)’s stock had its “outperform” rating reiterated by equities research analysts at Sanford C. Bernstein in a research note issued to investors on Tuesday, reports. They currently have a $53.00 price target on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at Atlantic Securities reiterated an “overweight” rating on shares of Citigroup Inc (NYSE:C) in a research note to investors on Wednesday, May 15th. They now have a $53.00 price target on the stock.

Why there may not be too many takers for new banks (LiveMint)
Ousted Citigroup Inc (NYSE:C) chief executive officer Vikram Pandit ’s return to banking is creating excitement in the Rs. 75 trillion Indian banking industry, but there may not be too many takers for permits because of regulatory reasons and some licensing norms that many companies say will come in the way of creating value. The Indian central bank is set to open up the sector for a bunch of private entities as well as state undertakings a decade after it allowed two new banks to start business.

Citigroup Inc (C): What’s The Latest? (InsiderMonkey)
On a day when the markets are otherwise flat, Citigroup Inc (NYSE:C) shares are trading up roughly 0.5% halfway through the trading day, seemingly on no news other than some changes at some senior positions at the bank. The stock move is slightly less than its median daily move over the past 12 months, so it was to be expected, but let’s take a closer look at those changes and what they could mean for the future of the bank. But first, the sector The rest of the Big Four banks have also stayed put for the most part this morning: JPMorgan Chase & Co. (NYSE:JPM) recovered from earlier losses this morning and is now flat.