BUZZ-BGC Group slides after report Trump to pick Lutnick as Commerce secretary

Reuters

2024-11-20

** Shares of billionaire Howard Lutnick's brokerage firm BGC Group slide as much as 10.5; last down 6.6% at $9.93

** President-elect Donald Trump expected to pick Lutnick to serve as commerce secretary, a Punchbowl reporter said in a post on X, on Tuesday, without citing any sources

** Lutnick had emerged as a serious contender, alongside investor Scott Bessent, for the top Treasury job in the new Trump administration, Reuters has reported

** As of last close, BGC shares up 47.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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