Markets

Sector Update: Financial

Financial stocks were ending mostly higher Thursday with the NYSE Financial Sector Index climbing about 0.8% and the S&P Financial 100 Index rising almost 0.9%.

In company news, shares of the National Bank of Greece SA ( NBG ) rose Thursday after the bank was raised to Buy from Hold at Deutsche Bank.

The Greek bank also is likely picking up support after the European Central Bank today cut all of main interest rates to new record lows, flooding the continent in a fresh round of liquidity in a bid to stimulate a dragging regional economy.

NBG shares recently were up 5.5% at $3.82 apiece, staying within 3 cents of their session high. The stock has a 52-week range of 2.85 to $6.48 a share, declining almost 37% over the past 12 months.

In other sector news,

(+) RATE, Raised to Outperform from Sector Perform at RBC Capital, citing valuation following the stock's 30% slide from its recent highs.

(-) RCAP, Prices offering of 19 mln shares of its Class A stock at $20.25 each, a 10.3% discount to Tuesday's closing price and raising $384.75 mln in gross proceeds. Controlling shareholder RCAP Holdings sold 5 mln shares in the offering, pocketing $101.3 mln.

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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