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Financial Sector Update for 06/07/2018: AFSI, TRI, DB, ACGL, BRKL


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Top Financial Shares:

JPM: +0.7%

BAC: +0.4%

WFC: +0.7%

C: +0.7%

USB: flat

Financial shares were mainly positive ahead of Thursday's open, with financial services companies among gainers as bond yields climbed higher after hints from the European Central Bank officials that it is preparing its plans for exiting an aggressive quantitative-easing program; the plans will reportedly be revealed at its meeting next week.

On the economic calendar, new unemployment claims fell 1,000 to 222,000, versus forecasts for an increase of 4,000 to 225,000, according to data compiled by Econoday. Continuing claims rose 21,000 to 1.75 million but remained near the lowest level in decades.

Looking ahead, Q1 data on quarterly services will be out at 10 am ET, household debt numbers for Q1 will be reported at 12 pm ET and consumer credit for April is slated for 3 pm ET.

Expected movers:

- AmTrust Financial Services ( AFSI ): entered into an amended merger agreement with Evergreen Parent under which Evergreen will pay $14.75 per share, up from $13.50 per share in the prior agreement

- Deutsche Bank ( DB ): said it is reducing its onshore sales and derivatives coverage in individual markets across the Asia-Pacific

- Broadridge Financial ( BR ): acquired London-based MackayWilliams, a specialist European fund market and research firm

Other news:

- Thomson Reuters Corp ( TRI ): said it plans to repurchase an additional $1 billion shares of its common stock under a new repurchase program

-Arch Capital Group ( ACGL ): said it plans to expand the group's underwriting operations in Ireland

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Banking and loans
Referenced Symbols: AFSI , DB , BR , TRI , ACGL



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