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Sector Update: Financial Stocks Swooning Late, Erasing Most of Midday Rise

05/10/2021 11:54

03:44 PM EDT, 05/10/2021 (MT Newswires) -- Financial stocks were mixed late in Monday afternoon trading, with the NYSE Financial Index slipping less than 0.1% while the SPDR Financial Select Sector ETF still was ahead 0.3%.

The Philadelphia Housing Index also was climbing 1.0% and the SPDR Real Estate Select Sector ETF was up 0.7%.

In company news, B Riley (RILY) rose 3.5% after a new regulatory filing showed Blackrock (BLK) now owns 12.4% of the broker's outstanding stock with over 33.7 million shares, more than doubling its equity its stake since Feb. 2 when an initial ownership filing showed Blackrock held nearly 14.4 million B Riley shares.

Nomura Holdings (NMR) rose fractionally after saying it has formed a strategic partnership with investment and advisory firm Jarden to provide client services in Australia and New Zealand.

Arthur J. Gallagher (AJG) was edging higher in late trade following a Bloomberg report the insurance broker is discussing the purchase of select assets from Aon (AON) and Willis Towers Watson (WLTW) for around $3 billion.

BIT Mining (BTCM) was 2.2% lower, paring a portion of an earlier 4.2% slide after reporting a non-GAAP Q1 net loss of 0.46 renminbi ($0.07) per American depositary share, improving on an 0.82 renminbi per ADS loss during the year-ago quarter, while revenue for the Chinese cryptocurrency miner grew to 19.6 million renminbi from 3.1 million renminbi last year.