Sector Update: Financial Stocks Gain Monday Afternoon

MT Newswires Live11-12

Financial stocks were rising in Monday afternoon trading, with the NYSE Financial Index climbing 1.1% and the Financial Select Sector SPDR Fund (XLF) adding 1.4%.

The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.6%.

Bitcoin (BTC-USD) jumped 5.8% to $85,549.

In corporate news, Apollo Global Management (APO) and Mubadala Investment said Monday that they have extended their collaboration to originate investment opportunities across various asset classes. Apollo shares popped 3.1%.

NatWest (NWG) said Monday it has agreed to buy back 1 billion British pounds ($1.29 billion) worth of ordinary shares from the UK government. Its shares gained 2.8%.

Deutsche Bank (DB) has fired 111 senior managers in its retail and private wealth business, the Financial Times reported, as the bank aims to cut its cost-to-income ratio to between 60% and 65% in 2025. Deutsche shares rose 3%.

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