Financial Stocks Finishing Near Session Lows; Qiwi Hops to 2% Gain After Q2 EPS Beats Consensus View

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Top Financial Stocks

JPM -2.19%

BAC -2.39%

WFC -3.05%

C -2.66%

USB -2.30%

Financial stocks are broadly lower with the NYSE Financial Sector Index retreating 2.1% and the S&P Financial 100 Index sinking 2.3% in late trade.

In company news, Qiwi plc ( QIWI ) is up about 2% at $34.12 a share, earlier climbing to a new 52-week high of $36.00 after the specialty lender reported adjusted Q2 earnings of $0.32 per share, beating the Capital IQ consensus estimate by $0.10.

Qiwi's net profit during the June quarter rose 57% year over year to $16.7 million (547 million rubles) while revenue rose 62% over the same quarter last year to $47.0 million, also topping analyst estimates by $7.7 million.

"Our second quarter results reflect strong performance across our business," CEO Sergey Solonin said in prepared remarks. "We continued to execute on a number of our growth strategies including expanding the number of participants in our payments network, increasing the utilization of our service offerings and driving the adoption of Visa QIWI Wallet."

QIWI also raised its FY13 revenue guidance, forecasting 27% to 30% growth over FY12 levels, up about 4 percentage points over its prior outlook.

In other sector news,

(+) BMO, Q3 earnings of C$1.68 per share, ex items, beats by $0.16. Revenue climbs 4.4% year over year to C$4.05 bln, topping the consensus view by $150 mln. Year-ago EPS for Canada's fourth largest bank as measured by assets was $1.49 per share.

(-) BNS, Canada's third largest bank as measured by assets raises quarterly dividend by $0.02 to $0.62 per share. Q3 EPS of C$1.30 matches consensus. Revenue rises 0.2% over the same quarter last year to C$5.6 bln, beating the Street view by $300 mln.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: QIWI

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