Top Financial Stocks
Financial stocks were mostly higher today with the NYSE Financial Sector Index rising about 0.4% and the S&P Financial 100 Index also climbing about 0.4%.
In company news, China HGS ( HGSH ) rose sharply Monday after the real estate developer was hired by local government officials to rebuild two large-scale shanty areas in Hanzhong City with a combined budget of at least $1.3 billion.
HGSH shares were up more than 21% at $3.84 apiece, earlier rising to a session high of $4.15 a share. The stock has traded within a 52-week range of $2.10 to $8.84 a share, sinking about 54.5% over the past 12 months.
In other sector news,
(+) DRL, (+14.8%) Puerto Rico Treasury Department agrees to court-supervised settlement discussions over the bank's claims for $230 mln in back taxes within 10 business days of Aug. 8.
(-) Z, (-3.1%) Weekend Barron's article argues against the company's proposed $3.5 bln buyout of rival real estate website Trulia ( TRLA ).
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