Financial Stocks Mixed Near Close; New Head of S&P Ratings Services Hired

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Top Financial Stocks

JPM +0.23%

BAC +1.15%

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C +1.51%

USB +0.60%

Financial stocks are mixed with the NYSE Financial Sector Index slipping about 0.1% and the S&P Financial 100 Index climbing 0.1%.

In company news, McGraw Hill Financial ( MHFI ) is slightly lower in late trade, with shares trading mostly in negative territory this afternoon after the publishing and financial services company today hired away a Citigroup ( C ) executive to be the new president of its Standard & Poor's Ratings Services unit.

Neeraj Sahai will join S&P on Jan. 6, 2014, from Citi's Securities and Fund Services business, where he also acted as the bank's chief fiduciary officer. He'll succeed Douglas Peterson, who was named president and chief executive officer of McGraw Hill Financial several weeks ago.

In other sector news,

(+) FITB, Agrees to pay $25 mln to Freddie Mac ( FMCC ) as part of a settlement over defective mortgages sold to the government-sponsored home-loan financier prior to Jan. 1, 2009.

(-) BBVA, Bank of America reduces the Spanish financial company to Underperform from Neutral, citing its recent weak Q3 financial results. The BoA research team also reduced its price target by 25 cents to $10.70 per share.



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This article appears in: Investing , Commodities

Referenced Stocks: C , FMCC , MHFI

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