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Sector Update: Financial
By: MT Newswires
Financial stocks are adding to their earlier gains with the NYSE Financial Sector Index rising 0.8% and the S&P Financial 100 Index adding over 0.6%.
In company news, Marsh & McLennan Companies, Inc. ( MMC ) is narrowly higher in late trade at $42.49 a share and the insurer saying Vice Chairman David Nadler is retiring, effective Dec. 31.
Nadler was the founder and CEO of Delta Consulting Group, which was acquired by MMC in 2000. He remained at the helm of Mercer Delta through 2005 and became vice chairman in the office of the CEO in 2007.
In other sector news,
(+) GAIN, Increases monthly distribution by 20% to $0.06 per share.
(-) RBCAA, Withdraws application to become a national bank, effective pulling the plug on its proposed acquisition of banking assets from H&R Block ( HRB ).