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  • Citigroup Inc. (NYSE:C) - Expansion Plans in Africa

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    Wednesday Dec 8, 2010 at 08:46 am EST
     
    Citigroup Inc. (NYSE:C) Plans to Expand in Africa. 
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    Citigroup Inc. (NYSE:C) CEO, Vikram Pandit termed Africa as a new consumer spending base on his first business tour to Africa. “Africa has a major role to play in this new world. The most important thing we are seeing is an exponential rise in trade between emerging markets”, Vikram Pandit told reported in Johannesburg, on Tuesday.

    As reported by American Finance News, He is currently in South Africa, the largest economy of Africa. Nigeria, the second largest economy of African contingent, visit will follow his south-African safari.
    Shares of Citigroup Inc. (NYSE:C) closed at $4.62 on Tuesday above resistance level of $4.47. As Citigroup Inc. (NYSE:C) has not touched these levels since long, there are not any major resistance points above. Major support levels below are at $4.47, $424, $4.13, $3.95 and $3.83. Investors are positive about Citigroup Inc. (NYSE:C) and looks like it will touch new year high soon.
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