Top Financial Stocks
JPM +1.34%
BAC +1.06%
WFC +1.10%
C +1.19%
USB +0.61%
Financial stocks ignited for outsized gains this afternoon, with the NYSE Financial Sector Index climbing nearly 0.9% while shares of financial companies in the S&P 500 Index were showing a nearly 1.7% advance. Elsewhere, the Philadelphia Housing Sector Index ( HGX ) was ahead almost 1.6% in recent trade.
In industry news:
The headline number for December's Empire State Manufacturing Survey slipped to a 18.0 reading, down from 19.4 during the prior month and falling to a six-month low but still matching expert opinion. The new orders index and the shipments index recorded strong gains, indicating business activity in New York state was continuing to grow at a solid clip, according to the New York Fed report.
Among financial stocks moving on news today:
CCommerce Union Bancshares ( CUBN ) gained Friday after the bank holding company and prospective merger partner Community First today said their respective shareholders have voted to approve the companies' proposed tie-up, setting the stage for a Jan. 1 close.
In other sector news:
+ Private equity firm KKR & Co ( KKR ) has offered $8.04 billion - or EUR6.83 billion - for Unilever's ( UL ) margarine and spreads business after several days of exclusive talks that followed KKR outbidding several other potential suitors.
+ Apollo Global Management ( APO ) Friday acquired metals reclamation company Phoenix Services from Olympus Partners and other existing shareholders for an undisclosed sum. Phoenix clients include steel-makers ArcelorMittal (MT), Nucor Corp (NUE) and U.S. Steel (X), with the company collecting and recycling waste materials created during steel productions.
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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.
