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Sector Update: Financial

MT Newswires ·  {{timeTz}}

01:10 PM EDT, 05/31/2022 (MT Newswires) -- Financial stocks have turned narrowly mixed in afternoon trading, with the NYSE Financial Index sliding 0.2% but the SPDR Financial Select Sector ETF (XLF) was climbing 0.1%. The Philadelphia Housing Index was dropping 1.2% and the SPDR Real Estate Select Sector ETF (XLRE) was slipping 1.1%. In company news, LexinFintech (LX) plunged over 15% after the Chinese consumer loan company Tuesday reported non-GAAP Q1 net income of 0.62 renminbi ($0.10) per American depositary share, down from 3.72 renminbi per ADS a year earlier, while operating revenue fell 41.8% to 1.71 billion renminbi over the same period. Analyst estimates were not available for comparison.

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