Financial Sector Update for 12/07/2018: CLDC, CBL, COR

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Top Financial Stocks

JPM, -1.9%

BAC, -3.5%

WFC, -1.7%

C, -3%

USB, -1.6%

Financial stocks were ending the session in negative territory, with the NYSE Financial Sector Index declining 1.8% while financial companies in the S&P 500 Index fell more than 2% in afternoon trade.

In company news, China Lending ( CLDC ) rose more than 7% after it said it has launched a supply chain financing services operation through its majority-owned Zhiyuan Factoring subsidiary. China Lending's shares climbed more than 9% in late morning trading. Zhiyuan is 99% owned by a unit of China Lending and has registered capital of RMB30 million ($4.4 million). China Lending also said it acquired a 98% stake in Hangzhou Zeshi Investment Partners through Ningbao Ding Tai Financial Leasing. China Lending plans to use Hangzhou Zeshi to start new supply chain financing services in the future as part of its restructuring plan.

In other sector news,

(+) CBL Properties ( CBL ) Bloomberg News reports that the real estate investment trust is not putting itself up for sale despite shoppers' increasing preference for online shopping.

(-) CoreSite Realty ( COR ) Approves a quarterly dividend of $1.10 per common share, a 6.8% increase over the prior quarter. The dividend will be paid on Jan. 15 to shareholders of record as of Dec. 31.

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: CLDC , CBL , COR

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