×

Market Tips: Citigroup is a Buy, Beware of Gold

Citigroup posted a better-than-expected loss for the first quarter last week, joining the growing list of beleaguered Wall Street giants with tentative signs of recovery.

But is now the time to get into the financial stock or are there further declines in store?

Citigroup Shares Formed a Base

Citigroup shares have clearly formed a base and are coming out of their steep downtrend, Robin Griffiths from Cazenove Capital told CNBC.

"Either the business has got a future or it hasn't. If you think it's got some sort of future then it's cheap and it's a buy," Griffiths said.

To Buy or Not To Buy Gold

The price of gold could fall to around $850 an ounce, but could provide a buying opportunity at that level, Peter McGuire, managing director of Commodity Warrants Australia, told CNBC.

Higher Markets Mean Harder Drops

The further markets go up, the more we are setting ourselves up for harder falls later on, says Kirby Daley, senior strategist at the Newedge Group.

Impact of Markets on Greenback

It is too early to call the end to the recession in the US, says Stephen Halmarick, head of investment market research at Colonial First State Global Asset Management. But he tells CNBC that the dollar has been benefitting recently.

Sell Euro-Dollar Below $1.30

The euro looks set to soften against the dollar, Claudio Piron, head of Asia FX research of JPMorgan, told CNBC. He recommends selling the cross below $1.30. He explains his outlook on the euro to CNBC.

Upbeat on Aussie Market

The Australian market will end the year higher, Glenn Rosewall, CEO of BBY, told CNBC.