Bank Stocks End Up, but on Slow Trading

Rieker, Matthias
May 2004
American Banker;5/21/2004, Vol. 169 Issue 98, p20
Trade Publication
Bank stocks outperformed the market on Thursday, but traders say buying was lackluster. "It was a very quiet day," and few stocks stood out, said Daniel J. Tachiera, the head trader at Hoefer & Arnett Inc. of San Francisco. At a luncheon sponsored by the San Francisco Federal Reserve Bank and the University of Washington, Fed Governor Ben S. Bernanke indicated that the Federal Open Market Committee might raise interest rates only slowly. Some investors were thought to have linked the Seattle thrift company to news reports that HSBC Holdings PLC could be on the prowl for acquisition targets outside the Northeast.


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