ADVFN - Advanced Financial Network.
HOME» NYSE » J » JPM Stock Price » JPM Stock News

Jp Morgan Chase Share News

 Jpmorgan Chase & Co. Stock Price
JPM Stock Price
 Jpmorgan Chase & Co. Stock Chart
JPM Stock Chart
 Jpmorgan Chase & Co. Stock News
JPM Stock News
 Jpmorgan Chase & Co. Company Information
JPM Company Information
 Jpmorgan Chase & Co. Stock Trades
JPM Stock Trades

JP Morgan Agrees To Sell Metal Concentrates Unit To Freepoint

DOW JONES NEWSWIRES Connecticut-based futures firm Freepoint Commodities LLC agreed to acquire part of JP Morgan Chase & Co.'s (JPM) metal-trading business for an undisclosed sum, giving it another piece of the sprawling trading outfit once run by Royal Bank of Scotland PLC (RBS) and Sempra Energy (SRE). Freepoint said the unit, which trades physical base metal concentrates and copper cathodes, will be renamed Freepoint Metals & Concentrates LLC on the deal's closing. Its employees in Stamford, Conn., and Asia will join Freepoint's growing commodities staff, which also trades coal, oil and oil products as well as North American natural gas and electricity futures. The concentrates unit is among the business lines that JP Morgan acquired in 2010 from RBS and Sempra. JP Morgan paid about $1.7 billion for the European and Asian parts of their energy-trading joint venture. Freepoint was formed in February 2011 after the joint venture's founders left to form their own commodity trading business, starting with money from private-equity firm Stone Point Capital LLC. "We are a talent-focused company and the business we are acquiring has one of the deepest, most experienced teams in the industry," Freepoint Chief Executive David A. Messer said Wednesday. "We know this from personal experience: most of those joining us are our former colleagues and we're extremely happy to have them on the Freepoint team." J.P. Morgan Securities acted as the exclusive financial adviser to its concentrates unit in the deal. Shares of the bank were recently up 6 cents at $43.34 Wednesday, in line with the broader market. The stock has climbed 15% over the past three months. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
02/26/201520:07:03J.P. Morgan Emerges as CEO Breeding Ground
02/26/201520:05:14J.P. Morgan's CEO Bloodline
02/26/201519:27:10Plan to Sell Argentine Debt Collapses -- Update
02/26/201517:16:40Two Bank of America Directors Won't Seek Re-Election
02/26/201511:58:29New Standard Chartered Head Bill Winters Draws Rave Reviews
02/26/201511:34:54Standard Chartered CEO Peter Sands to Step Down -- 3rd Update
02/26/201507:23:49New Standard Chartered Head Has Cautious Image
02/26/201507:20:10Standard Chartered CEO to Step Down
02/26/201506:46:46Standard Chartered CEO Peter Sands to Step Down -- 2nd Update
02/26/201504:42:29Standard Chartered CEO Peter Sands to Step Down -- Update
02/25/201519:03:11Morgan Stanley to Pay $2.6 Billion to Settle Mortgage Cases...
02/25/201515:42:57Urwin to Join Deutsche Bank as Co-Head of Corporate Banking...
02/24/201521:11:21J.P. Morgan to Reduce Up to $100 Billion in Certain Deposits...
02/24/201518:30:13Correction to Story on J.P. Morgan's Auto Loan Pricing
02/24/201516:56:15J.P. Morgan in Talks With Justice Department Over Auto Loan Pricing
02/24/201511:38:55J.P. Morgan to Charge Institutional Customers for Some Deposits...
02/24/201511:01:07J.P. Morgan to Reduce Branch Count by 300 By End of Next Year
02/24/201510:22:34J.P. Morgan to Charge Institutional Customers for Some Deposits...
02/24/201509:21:40J.P. Morgan Expects to Reduce Up to $100 Billion in Certain Deposits
02/23/201521:57:34Big Banks Face Scrutiny Over Pricing of Metals

Jp Morgan Chase and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad