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.
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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.
