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Financial Sector Update for 12/26/2018: MS,HX,MA,BLX

Top Financial Stocks

JPM +2.80%

BAC +5.15%

WFC +2.99%

C +2.88%

USB +2.47%

Financial stocks continued to rise in afternoon trading, including a nearly 2.5% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were climbing about 2.1%. The Philadelphia Housing Index added nearly 2.9%.

Among financial stocks moving on news:

(+) Morgan Stanley ( MS ) was 5% higher in late Wednesday trading. The Financial Industry Regulatory Authority hit the company with a $10 million fine over failures found with its anti-money laundering program, saying it didn't "devote sufficient resources to review" automated surveillance alerts. The surveillance system also "did not receive critical data" from several outside systems," the industry-funded watchdog charged.

In other sector news:

(+) Hexindai ( HX ) rose 4% after the Chinese financial services company said it was teaming up with Kunming Aotou Economic Information Consulting Co Ltd to further diversify its funding sources.

(+) Mastercard ( MA ) was climbing 4.7% after the credit card issuer said retail sales across all payment types from prior to Thanksgiving through Christmas rose 5.1% over year-ago levels to $850 billion, matching their highest level in six years.

(+) Banco Latinoamericano de Comercio Exterior SA ( BLX ) was 2.6% higher in recent trade after the Panama-based bank company said it was the joint lead arranger for a $75 million, senior unsecured three-year term loan facility for YPF Energia Electrica SA, a petroleum exploration and production company in Argentina.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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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