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America’s second biggest bank’s recorded a huge jump in revenue. JPMorgan’s recorded the fourth quarter of profits of 3.5 billion Australian dollars. The bank’s capital in the first nine months of this year was also 70% higher than the year before. But the revenue came in below analysts1 expectations. And as a result, JPMorgan’s stock shed more than 2% while the Bank of America and Wells Fargo also lost ground.
Wall Street slipped back on those big bank losses. The Dow lost around 1%.
European shares also fell as a result. London’s FTSE dropped 43 points.
The local market recovered from a day of losses on Friday, but the ASX 200 and the All Ords finished the week steady after a profit upgrade from the Commonwealth2 Bank lifted all four of the major banks. It’s up to 2.9 billion dollars. The bank says a decline in bad loan expenses and improving share markets both helped. The forecast is much higher than analysts had predicted.
And on the currencies market, the Australian dollar’s buying 92.3 US cents, 56.8 British pence and 83.7 Japanese yen3.
And that’s your ABC Business News up-to-date.
1 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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2 commonwealth | |
n.共和国,联邦,共同体 | |
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3 yen | |
n. 日元;热望 | |
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