Top Financial Stocks
Financial stocks are lower today with the NYSE Financial Sector
Index sinking 0.5% and the S&P Financial 100 Index also falling
In company news, Citigroup Inc (
) is little changed, down less than 0.1%, and the bank company said
to be considering selling half of it branches in Texas as CEO
Michael Corbat refocuses more company attention on larger urban
The approximately 50 branches hold around $2 billion in customer
deposits and could fetch as much as $50 million, two people with
direct knowledge of the plan told Bloomberg News. Most of the
outlets are in rural areas in western Texas, another person
C's North American consumer-banking unit had 983 branches at the
end of June and another 2,929 in other countries, according to bank
records. The company has closed a number of U.S. branch locations
in recent months and selling retail units in countries including
Uruguay and Turkey.
In other sector news,
(+) RDN, Reaches agreement with Freddie Mac to cap expenses
linked to 25,700 first-lein mortgage loans held by the
government-affiliated housing finance company at $840 mln. The pact
will cost RDN about $20 mln in Q3.
(-) IRC, Amends unsecured credit facilities totaling $360
million, up $10 mln from its prior pacts and comprised of a
four-year, $180-mln revolver extendable for an extra 12 months and
a five-year, $180-mln term loan.
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