Sector Update: Financial

Last Updated: Thursday, January 20, 2022 3:18 PM | MT Newswires

Financial stocks continued to pare their earlier gains, with the NYSE Financial Index and the SPDR Financial Select Sector ETF (XLF) rising 0.7% each in afternoon trading. The Philadelphia Housing Index was hanging onto a 0.1% advance while the SPDR Real Estate Select Sector ETF (XLRE) was 0.6% higher. In company news, AMTD International (HKIB) was advancing almost 13% after the Hong Kong-based investments holding company announced plans to acquire the L'Officiel fashion media company. Financial terms were not disclosed.

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