Top Financial Stocks
Financial stocks were advancing in afternoon trading, including a nearly 0.4% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 were rising 0.7%. The Philadelphia Housing Index was rising 0.1%.
Among financial stocks moving on news:
(+) Jack Henry & Associates ( JKHY ) was more than 1% higher after the payments processor said it bought privately held Geezeo for an undisclosed amount. Jack Henry is expecting to sell Geezeo's financial management tools to its core bank and credit union clients and to its non-core clients supported by its ProfitStars division.
In other sector news:
(+) Credicorp ( BAP ) was fractionally higher in recent trading. The Latin American bank company Monday said it was acquiring a 74.5% majority stake in Columbian microfinance firm Banco Compartir SA for around COP254.8 billion, or about $80 million.
(-) Deutsche Bank ( DB ) turned narrowly lower this afternoon, giving back a modest morning gain. The struggling German lender is expecting to meet July 7 to discuss a major restructuring that could result in up to 20,000 jobs being cut, according to a Reuters report. Separately, the bank also plans on bulking up its businesses with more stable revenue streams like wealth management.
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