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Financial Sector Update for 12/03/2018: KKR,SLG,UBS,BNS,BNS.TO

Top Financial Stocks

JPM +0.92%

BAC +0.35%

WFC -0.13%

C +0.52%

USB -0.14%

Financial stocks were moderately higher shortly before Monday's closing bell, with the NYSE Financial Index adding over 0.7% in value this afternoon while shares of financial companies in the S&P 500 also were climbing just under 0.5%. The Philadelphia Housing Index was rising about 1.1% today.

Among financial stocks moving on news:

(+) KKR & Co ( KKR ) was hanging on to a nearly 3% gain in late Monday trading after the global investments company teamed with TMG Partners to buy 1221 City Center in downtown Oakland, Calif. The purchase marks the second transaction for the two companies so far this year, with the firms also partnering on a July deal for another commercial property in Oakland, 1330 Broadway.

In other sector news:

(+) UBS ( UBS ) rose over 2% higher at one point on Monday after Chinese regulators approved an application to more than double its ownership stake in UBS Securities Co Ltd to 51% from 24.99%.

(+) Bank of Nova Scotia (BNS,BNS.TO) hanging on to a slightly less than 1% gain during Monday trade after late Friday disclosing plans in a Form F-3 regulatory filing to sell up to $40 billion in common or preferred shares or senior debt or subordinated debt securities from time to time. Net proceeds will be used for general banking purposes, it said.

(-) SL Green Realty ( SLG ) retreated Monday, falling almost 1%, after the real estate investment trust early Monday said it will buy an undisclosed controlling interest in a 20-story office tower on West 34th Street in Manhattan. The deal, which values the office building at around $440 million, is expected to close during the first half of 2019.

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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