Closing Glance: Diversified financial shares mostly fall
NEW YORK—Most diversified financial-services stocks declined on Monday as rising oil prices added to investors' pessimism after Microsoft Corp.'s decided to withdraw its $43.7 billion bid for Yahoo Inc.
Oil prices reached a new record of $120 a barrel.
Also Monday, two Wall Street analysts said Bank of America should walk away from its proposed acquisition of Countrywide Financial, or reduce its offer for the troubled mortgage lender.
Where shares of some diversified financial companies closed on Monday:
Bank of America, down 82 cents, or 2.1 percent, to $38.97.
CIT Group Inc., down 32 cents, or 2.5 percent, to $12.59.
Citigroup, down 64 cents, or 2.4 percent, to $25.75.
JPMorgan Chase & Co., down 66 cents to $48.
© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
