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Financial Sector Update for 12/03/2015: RBS, BCS, TD, CM

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Top Financial Shares:

JPM: +0.1%

BAC: +0.5%

WFC: +0.8%

C: flat

USB: flat

Financial shares were mainly higher in pre-market trade Thursday.

In financial stocks news, the Royal Bank of Scotland ( RBS ), a financial services company, was upgraded by analysts at Macquarie to a neutral rating from underperform. Price target information was not available.

Shares in the company were 2.2% higher at $9.37 pre-bell. This is towards the lower end of the stock's 52 week trading range between $9.02 and $12.64.

British bank Barclays ( BCS ) agreed to sell its Italian network of 89 branches to Mediobanca's CheBanca!.

Barclays' ADRs were flat at $14.14 in recent pre-market trade, towards the lower end of the company's 52 week trading range between $13.20 and $18.05.

Toronto Dominion Bank ( TD ) Thursday reported fiscal Q4 earnings just above street view, while revenues were well above expectations.

Shares in the bank were flat at $41.19, towards the lower end of the company's 52 week trading range between $35.93 and $50.22.

And Canadian Imperial Bank of Commerce ( CM ) reported on Thursday better-than-expected earnings for Q4 ended Oct. 31, reflecting the strong performance of the lender's retail and business banking, wealth management, and capital markets segments.

Shares in the company were flat at $75.52 pre-bell. The company has traded between $62.42 and $94.39 over the past 52 weeks.

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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