Shares of Financials Rising; MBI Down 3% After Swinging to Q2 Loss, Eyes Re-Start of Muni Bond Unit

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Financial stocks are higher today with the NYSE Financial Sector Index advancing 0.7% and the S&P Financial 100 Index gaining about 0.3%.

In company news, MBIA Inc. ( MBI ) is down 3% at $13.03 a share after swinging to a Q2 net loss compared to last year after taking a $182 million loss on the valued of its insured derivatives.

The company reported a net loss of $0.92 per share, reversing a $2.98 per share profit during the same quarter last year.

MBIA today also said it was working on relaunching its municipal bond insurance unit, National Public Finance Guarantee Corp.



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This article appears in: Investing , Commodities

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