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Bank of America (BAC)
Bank of America (BAC) stock looked set to rebound slightly when US markets open later on, having seen its stock price dip 6.3% in trading hours on Tuesday amid a broader rout for financial markets.
The pullback echoes investor worries regarding the growth of the US economy and inflation under president Donald Trump, as the latest tariff disputes play out.
Stocks started to tick back up after commerce secretary Howard Lutnick hinted that Trump may provide a pathway to tariff relief for Canada and Mexico as soon as Wednesday.
Read more: The highly-rated defence stocks investors are buying up
Bank of America peer Citigroup's (C) stock price also lost more than 6% in value yesterday and was trading 1.3% higher in pre-market.
Bank of America's stock price is currently 2.9% lower for the year-to-date.
(BAC)
BlackRock (BLK)
Investment giant BlackRock led a consortium of other financiers in a deal to buy majority stakes in ports on either end of the Panama Canal.
CK Hutchison (0001.HK), the Hong Kong-based current owner, agreed the deal, which includes BlackRock, Global Infrastructure Partners and Terminal Investment Limited (TIL.NS), the company said on Tuesday.
The $22.8bn deal follows pressure from Trump over alleged Chinese influence at the waterway as tensions ramp up regarding global trade.
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CK Hutchison said it expects to receive cash in excess of $19bn, a figure that includes repayment of some shareholder loans.
Blackrock stock fell 1.5% on Tuesday, but looked set to recoup some of those losses in Wednesday's session — stock was 1% higher in premarket trade.
(BLK)
BAE Systems (BA.L)
BAE Systems (BA.L) stock continued a barnstorming rally on Wednesday, rising 2.6% in the morning session in London as the tide continues to rise for defence firms.
Over the last five days the company has put on more than 19% in value as governments look to defence contractors amid mounting geopolitical tensions with Ukraine, Russia and the rest of the world.
This came after a defence summit of European leaders, including Ukrainian prime minister Volodymyr Zelensky, in London on Sunday to discuss finding ways to end the Russia-Ukraine war.
Read more: Stocks that are trending today
UK prime minister Keir Starmer said Europe must act to support Ukraine, and that the UK and France would lead a "coalition of the willing" to help end the war with Russia.
Since then, chancellor Rachel Reeves has vowed to cut red tape for defence procurement.
Adidas (ADS.DE)
Adidas warned of slower growth in its latest set of results, despite clocking a 12% increase in full-year sales for 2024. It said it expects revenues to increase at a high-single-digit rate in 2025.
