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Citi buoys global markets


Global stock markets rallied on Tuesday after Citigroup’s revelation that it had a strong start of the year ignited investor hopes that the first quarter would bring some solace to the battered financial sector

The last rescue, announced a fortnight ago, will turn the US government into Citi’s largest shareholder, with a stake of up to 36 per cent.

The Citi chief added that in January and February alone – two months in which investment banks did well because of a partial thawing of credit markets – the bank generated top line revenues of $19bn before markdowns.

buoy 〈…を〉支える,〈望みなどを〉つなぐ

revelation 発覚,天啓

solace 慰め

batter 打ち壊す

fortnight 2 週間

thaw 〈凍結したものが〉解ける

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