Financial Sector Update for 09/03/2019: SPGI,TRNO,CTO,LYV,BX

Top Financial Stocks

JPM -1.38%

BAC -1.94%

WFC -0.89%

C -1.69%

USB -0.83%

Financial stocks were ending mostly lower this afternoon, with the NYSE Financial Index sinking over 0.8% while shares of financial companies in the S&P 500 were falling more than 1.2%. The Philadelphia Housing Index was off nearly 0.7%.

Among financial stocks moving on news:

(+) S&P Global (SPGI) turned lower this afternoon, giving back a 1% gain that followed the financial data company announcing a pair of acquisitions by its Platts division, including Canadian Enerdata, the publisher of the Canadian Gas Price Reporter. It also purchased the UK-based Live Rice Index, which supplies benchmark price assessments and other information to the rice industry. Financial terms of the acquisitions were not disclosed.

In other sector news:

(+) Consolidated-Tomoka Land Co (CTO) rose 1% higher after Tuesday saying it has acquired the Alpine Valley Music Theatre near Milwaukee for an undisclosed price. The 37,000-seat amphitheater in East Troy, Wisc., operates under an absolute net lease with Live Nation Entertainment (LYV) expiring in 2030.

(+) Terreno Realty (TRNO) was hanging on to a slim rise late in Tuesday trading after the real estate investment trust said it has purchased a 192,000-square-foot industrial property in New York for around $80.5 million. The fully leased property contains two industrial distribution buildings covering six acres in Brooklyn's East Williamsburg neighborhood.

(-) Blackstone Group (BX) declined Tuesday, falling over 2%, after announcing plans, through a subsidiary, for an offering of senior notes to help fund the redemption of all of its outstanding 5.875% senior notes due 2021.

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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