Capital One Financial Corp. shares jumped nearly 12% after the company reported that U.S. credit card delinquencies fell last month.
The $177.4 billion-asset McLean, Va., company said in a regulatory filing Wednesday that credit card loans delinquent at least 30 days fell to 4.77% in June from 4.9% in May.
The net chargeoff rate for U.S. credit cards rose moderately to 9.73% from 9.41% a month earlier.
For U.S. auto loans, Capital One's chargeoff rate rose to 3.89% in June from 3.62% in May. The delinquency rate rose to 8.89% from 8.59%.