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Financial Sector Update: March 16, 2011
Financial shares are tilting slightly higher in pre-market trading and ETRADE Financial (ETFC) says daily Average Revenue Trades (DARTs) for February were 185,717, up 3% from January and up 34% from the year-ago period. ETFC ended the month with approximately 2.7 million brokerage accounts, including gross new brokerage accounts of 37,109 and net new brokerage accounts of 18,343 during the month. Total accounts ended the month at approximately 4.3 million. Net new brokerage assets were positive $1.4 billion in the month, the highest level since October 2008, it said. ETRADE shares are flat in pre-market. Meanwhile, Goldman Sachs (GS) is higher as Bloomberg reports that the bank has agreed to buy Benchmark Asset Management, which is India’s largest provider of index-tracking funds. The move comes as Goldman--which had set up its own mutual fund unit in 2008--did not oversee any assets in India at the end of the year, the report said. Goldman shares are up 0.04%, or $0.07, to $157.32.
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Date Found: March 16, 2011
Date Produced: March 16, 2011
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