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IVZ

Financial Sector Update for 06/03/2015: IVZ,RCAP,AKR

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Top Financial Stocks

JPM +1.14%

BAC +1.18%

WFC +1.21%

C +1.43%

USB +1.47%

Financial stocks were mostly higher, with the NYSE Financial Sector Index rising 0.5% and the S&P Financial 100 Index adding 0.6%.

In company news, shares of investment manager Invesco ( IVZ ) were lower Wednesday, enjoying little apparent help from analysts at Piper Jaffray who began coverage of the stock with an overweight rating and a $50 price target.

IVZ share were down almost 1% at $39.62 apiece, earlier dropping to a session low of $39.50 a share. The stock has traded within a 52-week range of $34.40 to $42.05 a share, rising about 7% over the past 12 months before Wednesday's start.

In other sector news,

(+) RCAP, (+5.5%) Wholesale broker-dealer subsidiaries raised around $431 mln of total equity capital during May, boosting its three-month running total to $1.36 mln - a 57% increase over the prior three-month period.

(-) AKR, (-1.7%) Sells its remaining residential development rights to City Point project in Brooklyn, N.Y., to Extell Development Co. for $115.5 mln.

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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