Sector Update: Financial
Financial stocks are higher today with the NYSE Financial Sector Index climbing 0.8% and the S&P Financial 100 Index advancing 0.6%.
In company news, NYSE Euronext ( NYX ) is higher, with shares rising 0.7% to near $42.20 each and just over $1 below 52 week highs after the stock exchange today said it is buying an undisclosed minority stake in ACE, a transaction management platform for private placements of equity, debt and other securities.
NYSE Euronext and ACE will establish an independent technology for new issuances of private securities, with the goal of bringing greater transparency and efficiencies to the private market.
Financial terms of the investment were not disclosed.
In other sector news,
(+) BXP, (+0.5%) Agrees to sell its 45% stake in the ground leasehold interest and related tax credits in the Times Square Tower in mid-town Manhattan to Norway's oil fund for $684 million in cash.
(-) BOFI, (-1.9%) Completea acquisition of about $173 million in deposits from Principal Bank, including $31 million in time deposit accounts.