AT&T closes weaker; Capital One preferreds decline; Northern Trust negative

By James McCandless

San Antonio, Jan. 6 – The preferred market opened the week with a decline across the trading spectrum.

After spending another day leading trading volume, AT&T Inc.’s 5% series A perpetual preferred stock closed the afternoon weaker. The preferreds were down 18 cents to close at $26.15 on volume of about 825,000 shares.

Elsewhere, in finance, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferred stock declined. The preferreds shaved off 10 cents to close at $25.19 with about 366,000 shares trading.

Sector peer Bank of America Corp.’s 5% series LL non-cumulative preferreds followed the day’s trend, falling fell 8 cents to close at $25.93 on volume of about 267,000 shares.

JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferreds also took the downward track, declining by 9 cents to close at $25.90 with about 218,000 shares trading.

Meanwhile, asset manager Northern Trust Corp.’s 4.7% series C non-cumulative perpetual preferred stock also saw negativity, shedding 7 cents to close at $25.99 on volume of about 171,000 shares.

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