Sector Update: Financial Stocks Higher Friday Afternoon

MT Newswires Live11-30

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.4% and the Financial Select Sector SPDR Fund (XLF) ahead 0.5%.

The Philadelphia Housing Index was adding 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was increasing 0.2%.

Bitcoin (BTC-USD) gained 2.1% to $97,188, and the yield for 10-year US Treasuries was down 3.1 basis points to 4.21%.

US stock markets will close early at 1 pm ET.

In corporate news, Citigroup (C) expects to complete next week the separation of Mexican consumer bank Banamex's systems from its other operations in Mexico, a key step ahead of its planned US and Mexican initial public offering in late 2025 or after, The Wall Street Journal reported Friday. Citi shares added 1%.

Mitsubishi UFJ Financial (MUFG) and its MUFG Bank unit agreed to sell a 25% stake in HC Consumer Finance Philippines to Security Bank for 26.5 billion Japanese yen ($176.3 million). Mitsubishi UFJ Financial shares popped 2.7%.

Brookfield Asset Management (BAM) and Brazilian shopping center operator Iguatemi are nearing a deal to sell the Patio Paulista and Patio Higienopolis malls in Sao Paulo, Reuters reported Friday. Brookfield shares added 0.6%.

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