Markets

Financial Sector Update for 12/18/2015: JRJC, GPT

Top Financial Shares:

JPM: -0.9%

BAC: -0.8%

WFC: flat

C: -0.7%

USB: flat

Financial shares were mainly lower in pre-market trade on Friday after economic data published on Thursday painted a mixed picture for employment and manufacturing.

Initial jobless claims slid by 11,000 to 271,000, just missing estimates for 270,000, while the Philadelphia Fed Survey fell to -5.9 in December, well below the +1.2 expected and down from the +1.9 registered in November.

In financial stocks news, China Finance Online ( JRJC ), a Beijing-based online financial services outfit, Friday reported it received RMB154.9 million ($24.0 million) from its investment in the Langfang real estate project, including recovered principal of RMB137.9 million ($21.7 million).

Shares in the company were 4.0% higher at $6.29 pre-bell. This is within the upper band of the stock's 52 week trading range between $2.90 and $6.85.

And Gramercy Property Trust ( GPT ), a property investment company, said late Thursday that it has completed its merger with Chambers Street Properties ( CSG ) and has secured $2.2 billion in new financings.

Shares were unchanged at $7.82 pre-bell. This is within the lower band of the stock's 52 week trading range between $6.34 and $8.82.

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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