News Headline Summary

Looking forward, Bank of America and Citigroup are due to report earnings at 1200GMT and 1300GMT respectively; whisper number for BAC headline is USD 0.14 and C at USD 0.94...

Bank of America:
- Q4 EPS Exp. USD 0.20
- Q4 revenues Exp. USD 21.00bln
- Areas of interest to watch are overall cost cutting plans, reduction in legacy asset headcount, mortgage settlement with banking regulations, expenses and delinquent mortgages.

Citigroup
- Q4 EPS Exp. USD 0.96
- Q4 sales Exp. USD 18.92bln
- Following Wells Fargo earnings last week and one thing to look out for that was a prominent feature in their report was shrinking net interest margins and a slowing mortgage pipeline, something analysts will be closely watching in today’s Citi numbers.
- Separately analysts note the bank’s balance sheet is still in need of repair and there is still some uncertainly following the management shakeup that saw Pandit step down.

As a note, yesterday Goldman Sachs and JPMorgan finished up 4.06% and 1.01% respectively.

NOTICE: Bank of America and Citigroup earnings releases at 1200GMT and 1300GMT respectively will be covered on the equity and gold channel only, although any knock-on implications on the broader market will be covered on all channels.

17 Jan 2013 - 12:20 - Equities - Source: RANsquawk

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