Financial Sector Update for 10/03/2018: TRI, KKR, TCRD, SIR, GOV

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Top Financial Stocks

JPM +1.29%

BAC +1.72%

WFC +1.14%

C +1.03%

USB +1.40%

Financial stocks were broadly higher in Wednesday afternoon trading, including a nearly 0.7% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were advancing almost 1.2%. The Philadelphia Housing Index was falling just over 0.3%.

Among financial stocks moving on news:

(+) Thomson Reuters ( TRI ) was nearly 6% higher in recent trade after the financial data and news company said investors holding a combined $539.5 million of either its 4.30% notes maturing in November 2023 or its 4.50% notes coming due in May 2043 had tendered the debt.

In other sector news:

(+) KKR & Co LP ( KKR ) was 3% higher on Wednesday, easing slightly from its session high. The private-equity investor said Tuesday that it closed on its acquisition of BMC Software from a private investor group led by Bain Capital and Golden Gate Capital together with GIC, Insight Venture Partners and Elliott Management. Financial terms of the transaction were not disclosed.

(-) Select Income REIT ( SIR ) dropped over 9% on Wednesday after the real estate investment trust late Tuesday disclosed plans for a secondary public offering of 24.92 million shares of its common stock now owned by Government Properties Income Trust ( GOV ). If completed, the upcoming stock sale would liquidate Government Properties' entire 27.8% stake in Select Income REIT, ending its tenure as the company's largest institutional investor it has held since July 2014.

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

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This article appears in: Investing , Banking and loans
Referenced Symbols: TRI , KKR , TCRD

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