Trump highly praised Citi's M&A advisory ranking first, but the top spot was not taken by Citi.

President Trump suddenly showed a strong interest in the topic of mergers and acquisitions, unexpectedly praising Citigroup's CEO Jane Fraser. Trump talked extensively about an indicator highly valued by investment bankers, congratulating Citigroup for ranking first in the mergers and acquisitions advisory business. However, it is currently unclear on which ranking list the president based his assertion that Citigroup is in the top spot. After the post was published, Citigroup's stock price briefly surged. "Wow! Citigroup ranks first in the first quarter in terms of transaction volume in the mergers and acquisitions advisory market," Trump posted on Wednesday morning. "Congratulations to Jane F and all her outstanding employees. They are really working hard! Citigroup with a big turnaround!!" Shortly before Trump's post, Fox Business Channel aired a TV program on Wednesday morning featuring host Maria Bartiromo interviewing Citigroup veteran banker Leon Kalvaria. The on-screen ticker displayed that Citigroup ranked first in the first quarter in the mergers and acquisitions advisory market in the power industry - just a small part of the overall mergers and acquisitions market.