Markets

Sector Update: Financials

Financial shares were lower in pre-market trade Monday as Ukraine tensions and data on China manufacturing weighed on markets.

HSBC's final version of China's purchasing managers index was 48.1 in April, below the originally reported 48.3.

In financial stocks news, Realogy Holdings ( RLGY ) recorded a net loss attributable to common shareholders of $46 million, or $0.32 per diluted share, for Q1 ended March 31, 2014 versus a net loss of $75 million, or $0.52 per diluted share, a year earlier. The average analyst estimate is for diluted loss per share of $0.21, according to Capital IQ.

Net revenue increased to $1 billion from $957 million, matching the Capital IQ consensus.

The provider of residential real estate services expects homesale transaction volume in the range of -2% to +2% year-over-year for Q2.

RLGY was flat in pre-market trading on Monday and closed at $42.66 Friday.

And, Citigroup ( C ) secured a deal to deliver custody and securities-lending services to Norway's $866 sovereign wealth fund for a "long-term" but unspecified amount of time, Bloomberg reports.

The contract displaces JPMorgan Chase ( JPM ), the previous provider.

JPMorgan Chase shares were down 1.94% at $54.50 in pre-market trade; C shares were down 0.5%.

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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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