Top Financial Stocks
Financial stocks are moderately, with the NYSE Financial Sector
Index gaining 0.5% and the S&P Financial 100 Index adding
In company news, CME Group Inc. (
) is down 0.9% at $72.72 a share in afternoon trade, bouncing as
low as $72.00 following reports trading on its European bourse will
begin Sept. 30 - three weeks later than first planned - according
to a memo obtained by the Financial Times today.
"We are currently working very closely with regulators in order
to achieve both recognition and a successful CME Europe launch,"
the company said in the memo, which was provided by a spokeswoman
to the newspaper saying she could not make further comment.
Chicago-based CME has been working to launch its first full
overseas exchange in a direct challenge to to Eurex, part of
Deutsche Borse, for clients in Europe and Asia. The new venue also
provides the company a platform to take on IntercontinentalExchange
) ahead of its $10-billion acquisition of NYSE Euronext (
) expected to close later this year.
CME in March began clearing interest rate swaps in London in its
first major foray into the European markets. ICE is down about 1.1%
today at $178.96 while NYX shares are off 1% at $41.77 each.
In other sector news,
(+) MHGC, (+1.9%) Kerrisdale Capital Management announces plans
to nominate a dissident board slate to bring about a sale of the
company. Another shareholder, Ron Burkle this week also demanded
MHGC put itself up for sale. MHGC has had no comment so far.
(+) RVT, (+0.3%) Shareholders approve $100-mln contribution to
Royce Global Value Trust Inc., a newly formed closed-end investment
company to be spun off from RVT, in exchange for $100 million of
Royce Global stock.
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