Sector Update: Financial Stocks Mixed in Afternoon Trading

MT Newswires Live
Aug 12

Financial stocks were mixed Monday afternoon, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) fractionally higher.

The Philadelphia Housing Index was falling 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.4%.

Bitcoin (BTC-USD) was up 0.4% at $119,767, and the yield for 10-year US Treasuries shed 2 basis points to 4.26%.

In economic news, the US dollar strengthened ahead of scheduled talks between Presidents Vladimir Putin and Donald Trump. The meeting will take place on Friday in Alaska without Ukraine and EU representation.

In corporate news, US authorities said Citigroup (C) oversaw more than $1 billion worth of deals for a trust that a sanctioned Russian oligarch held a concealed stake in, Bloomberg reported. Citi shares were down 0.2%.

International Money Express (IMXI) shares surged 61% after Western Union (WU) agreed to buy the firm, also known as Intermex, in an all-cash deal worth about $500 million. Western Union shares rose 3.3%.

Apollo Global Management (APO) is nearing a deal to buy cooling equipment maker Kelvion from Triton, Bloomberg reported. Apollo shares added 1.1%.

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