Markets

Sector Update: Financial

Financial shares are lower after Friday's strong rally as the stalemate over a government shutdown and debt limit continues for a third week.

In stocks news, Northern Trust ( NTRS ) says it has expanded its depositary services across multiple fund types, asset classes, fund locations and investment strategies.

With five new senior positions created across Europe, Northern Trust will offer depositary services in the United Kingdom and The Netherlands, in addition to its existing services in Ireland, Luxembourg and the Channel Islands.

And, Canada's Toronto-Dominion Bank (TD, TD.TO) is weighing an 8 billion pound ($12.8 billion) bid for Royal Bank of Scotland's (RBS.L) American retail banking business Citizens, according to the U.K's The Sunday Times newspaper.

RBS, which is 82% owned by British taxpayers, said in February that it would sell 20-25% of Citizens in the next two years through an initial public offering in New York, the newspaper said.

TD closed Friday at $89.35 and is unchanged pre-market. RBS ADRs are down 2% this morning at $11.82.

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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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