Markets

Financial Sector Update for 02/04/2016: PVTB, MTU

Top Financial Shares:

JPM: +0.8%

BAC: +1.6%

WFC: +1.3%

C: +0.6%

USB: +1.6%

Financial shares were mainly higher in early afternoon trade on Thursday after data published by the Labor Department showed that claims for jobless benefits in the US rose by more than expected last week.

Some 285,000 new claims for unemployment benefits were filed in the week ended January 30, marking an increase of 8,000 from the previous week's revised level, and surpassing the 280,000 claims that had been expected by some analysts.

In financial stocks news, PrivateBancorp ( PVTB ) was upgraded to outperform from market perform by Fig Partners.

Shares in the company were 1.3% lower at $34.80 in recent trade. The company has traded between $32.11 and $45.79 over the past 52 weeks.

And Mitsubishi UFJ Financial Group Inc ( MTU ) shares were up by 1.1% at $4.59 in recent trade even as Citigroup downgraded the stock to sell from neutral rating.

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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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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