AT&T improves; Bank of America preferreds gain; Duke Energy better

By James McCandless

San Antonio, Jan. 2 – The first trading day of the new year resulted in gains across the board in the preferred market.

At the top of trading, telecom name AT&T Inc.’s 5% series A perpetual preferred stock marked the day with an improvement.

Elsewhere, in finance, Bank of America Corp.’s 5% series LL non-cumulative preferred stock also gained.

Sector peer First Republic Bank’s 4.7% series J non-cumulative perpetual preferreds ended in a weaker position.

Citizens Financial Group, Inc.’s 5% fixed-rate non-cumulative perpetual preferred stock received a boost.

Meanwhile, utilities company Duke Energy Corp.’s 5.75% series A cumulative redeemable perpetual preferred stock ended better.

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