Market maker Zions Bancorp said Thursday that it has reported a $10.3 billion loss for the third quarter, less than the $10bn it reported in the same period a year ago.
The company said in a statement that it had $2.7 billion in net income from its businesses and plans to invest the rest in acquisitions, debt, and cash flow.
The statement also noted that Zions has not sold any shares, as it had planned to do for the first quarter.
Zions reported a net loss of $8.5 billion for the same quarter a year earlier.
Zions said it expects the stock market to decline by another $2 billion to $8 billion in the fourth quarter, after a more than $8bn loss in the prior quarter.ZIONS BANCORP (ZYS) shares closed up more than 1% at $6.50.
ZIONS, based in Pittsburgh, Pennsylvania, was founded in 2002 and is listed on the Nasdaq Stock Market.
ZYS is one of several U.S. firms that operate stock-market trading platforms, including Zions, Bancors, and Gilt Groupe.
The stock was down $2 in after-hours trading.
Shares of Sysco, which owns about 15% of the U.K. stock market, fell by about 4% to $9.19.
Sysco’s shares fell 6% in London.