JPMorgan Chase & Co (NYSE:JPM), Goldman Sachs Group, Inc (NYSE:GS) and BlackRock, Inc (NYSE:BLK) closed European money market funds to fresh investments after the European Central Bank cut deposit rates to zero.
The world’s biggest provider of money-market funds stated in a notice to shareholders that JPMorgan Chase was not accept latest cash in five euro-denominated money market and liquidity funds as the rate lower may result in losses for investors.
Goldman Sachs was not accepting new money in its GS Euro Government Liquid Reserves Fund, and BlackRock is restricting deposits in 2 European funds.
Goldman Sachs reported in a memo to fund shareholders mentioning the ECB’s rate cut that the European market environment was in unchartered territory with such historically low yields for high-quality issuance.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citigroup Inc (NYSE:C) plunged -1.79% to settle at $26.36, Goldman Sachs Group, Inc. (NYSE:GS) moved down -0.47% to end at $95.47 while KeyCorp (NYSE:KEY) increased +0.13% to finish on Friday at $7.70.
JPMorgan Chase & Co. (NYSE:JPM) last session volume of 32.06 million shares was surprisingly higher than its average volume of 46.16 million shares. The stock after opening at $33.92 hit high price of $34.12 and then closed at $33.90 by scoring -1.40%.
The liquidity measure in recent quarter results of the company was recorded on the other side the debt to equity ratio was 3.83 and long-term debt to equity ratio also remained 1.71. The Company had total cash at hand $869.94 billion and a book value per share as $47.61 in the most recent quarter.ss
The stock price volatility was 2.63% for a week and 2.96% for a month as well as price volatility’s Average True Range for 14 days was 1.13 and its beta remained 1.33.
JPM generated revenue of 60.55 billion in the following twelve months and earned $17.45 billion. The Company showed a positive 19.05% in the net profit margin and as well as in its operating margin which remained +26.67%. Company’s annual sales growth for the past five year was 0.73%.
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