Sector Update: Financial Stocks Sagging Ahead of Thursday Close

Last Updated: Thursday, June 10, 2021 3:40 PM | MT Newswires

Financial stocks extended their afternoon decline, with the NYSE Financial Index slipping 0.2% but the SPDR Financial Select Sector ETF was sinking 0.8% in late trade.

The Philadelphia Housing Index also was falling 2.6% although the SPDR Real Estate Select Sector ETF was rising 0.9%.

In company news, RLJ Lodging Trust (RLJ) fell 1.5% after disclosing plans by its operating partnership for a $400 million private placement of five-year senior secured notes.

To the upside, WisdomTree Investments (WETF) rose fractionally after the sponsor of exchange-traded funds priced a $150 million private placement of its convertible senior notes due 2026.

Banco Santander Mexico (BSMX) rose 3.2% after an HSBC upgrade of the financial services stock to buy from hold.

Xinyuan Real Estate (XIN) jumped 9.7% after the real estate developer said it completed work on five new properties in China.

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