Top Financial Stocks
Financial stocks were continuing their day-long advance this afternoon, with the NYSE Financial Sector Index rising over 1.8% and the S&P Financial 100 Index surging nearly 2.4%.
In company news, Medley Capital ( MCC ) was holding on to a moderate gain in late Tuesday trading after the special lender today priced a $70 million offering of 6.50% notes due 2021.
Net proceeds will be used to repay existing debt as well as funding general company purposes.
MCC shares were up 7% at $7.50 each, easing from a session high of $7.55 a share.
In other sector news,
(+) FSB, Announces $29.7 mln acquisition of privately held Civic Bank & Trust in Nashville. Expects deal to immediately add to its tangible book value and per-share earnings during its first year after closing.
(-) FXCM, Retail customer trading volume declines 12% compared with year-ago levels to $298 bln during November. Institutional trading drops 51% year over year to $41 bln.
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