Excerpt from: Individual Equities CFDs and Spread Bets
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| April 09, 2009 | | Spread bets and CFDs on individual equities | Spread betting and contracts for differences on the stock market should consider that Wells Fargo posted a record profit for Quarter 1. Beating analyst expectations, Wells Fargo led the way for banks, providing a measure of optimism that financial sector companies could be coming out of their slump.
Wells Fargo posted a profit of $3 billion, up from last year's Quarter 1 profit of $2 billion. Even with the acquisition of Wachovia and its past due home loans, Well Fargo managed to have an impressive quarter.
The gains from Wells Fargo were followed up by other financial sector gains from Bank of America, Citgroup and JPMorgan Chase. An increase in quality mortgage applications is also contributing to general enthusiasm for financial sector stocks.
| Topic Tags: CFDs, contracts for differences, financial sector, individual equities, spread bets, spread betting, stock market, Wells Fargo | |
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