Markets

Financial Sector Update for 12/21/2015: KB,WIBC,HAFC,BBCN,LMRK

Top Financial Stocks

JPM +1.49%

BAC +0.81%

WFC +0.19%

C +0.90%

USB +0.28%

Financial stocks finished moderately higher Tuesday, with the NYSE Financial Sector Index rising about 0.2% and the S&P Financial 100 Index climbing about 0.3%.

In company news, KB Financial Group Inc. ( KB ) rose Monday after the Korean financial services company said it has submitted a letter of intent to participate in the final bidding process to acquire Daewoo Securities Co. Ltd. and KDB Asset Management Co. Ltd, according to a regulatory filing today.

KB Financial said it will make additional disclosures as the process continues, including selection of a preferred bidder.

KB American depository shares were up almost 2% at $28.75 each, easing from a mid-morning climb to $28.82 a share.

In other sector news,

(+) WIBC, Raised to Outperform from Market Perform at Keefe Bruyette. Hanmi Financial ( HAFC ) drops acquisition bid for BBCN Bancorp ( BBCN ) following revised agreement between WIBC and BBCN.

(-) SAN, Ruling Parti Popular loses parliamentary majority in national general elections but still held a plurality, creating uncertainty until a ruling coalition is formed.

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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