Financials Down After Bank Earnings -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies declined as bank earnings failed to live up to high expectations.

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Shares of J.P. Morgan Chase ticked down after the largest U.S. bank by assets posted third-quarter earnings of $6.73 billion, 7.1% higher than a year earlier as increased lending profits offset weaker trading results.

Similarly, Citigroup posted higher third-quarter profit, as cost cuts compensated for struggles at its credit-card lending business.

HSBC Holdings named retail head John Flint as its next chief executive, signaling continuity in the Asia-focused bank's strategy.

-- By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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October 12, 2017 16:34 ET (20:34 GMT)