Financial shares were heavy in pre-market trade Monday,
retreating toward the close of the first half of the year.
In financial stocks news, Blackstone (
) is planning to launch a new hedge fund, with a few teams of
traders, likely in the fall, according to several reports.
Reports said the investment management firm, in a move to rival
other largest firms in the industry, is now in final discussions
with the first teams of traders to "place a relatively small number
of large, highly concentrated wagers."
BX closed at $33.46 on Friday.
And, Rexford Industrial (
) Monday said it has bought a portfolio of industrial properties
totaling 817,166 square feet for $88.5 million. Eight of the nine
properties are 96% leased and the remaining property is 40% leased.
The properties are located within Los Angeles County, Orange County
and San Diego County.
Shares in the real estate investment trust last touched $14.21
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