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Closing Glance: Diversified financial shares decline



By AP
08 May 2008 @ 04:39 pm EST

NEW YORK - Diversified financial services stocks fell Thursday as investors awaited quarterly results from insurance provider American International Group and worried about the financial health of State Street Corp.

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Quotes
STT 71.84 -2.4
CIT 9.54 0.54
JPM 41.96 1.1
C 21.12 0.23
BAC 33.44 1.09

SYMBOL LOOKUP

After the bell, AIG said it swung to a first-quarter loss of $7.81 billion due to losses in credit swaps and mortgage-related operations.

Earlier in the day, State Street denied published reports that it does not have enough cash in reserves to cover potential losses.

Here is a look at how shares of some diversified financial companies fared Thursday:

Bank of America, down 67 cents to $37.33.

CIT Group Inc., down 25 cents, or 2 percent, to $12.25.

Citigroup, down 18 cents to $24.30.

JPMorgan Chase & Co., down 52 cents to $46.05.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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