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Sector Update: Financial Stocks Gain Midday

MT Newswires ·  {{timeTz}}

01:01 PM EDT, 07/29/2022 (MT Newswires) -- Financial stocks were mostly gaining in midday trading Friday, with the NYSE Financial Index rising 0.9% and the SPDR Financial Select Sector ETF (XLF) ahead by about 1.3%.

The Philadelphia Housing Index was down 0.5% but the SPDR Real Estate Select Sector ETF (XLRE) was advancing 0.5%.

Bitcoin was declining 0.9% to $23,799.

In company news, Natwest Group (NWG) gained almost 9% after it reported an increase in Q2 revenue to 3.21 billion pounds ($3.9 billion) from 2.57 billion pounds a year earlier and also raised its guidance for full-year 2022 income excluding notable items to around 12.5 billion pounds from 11 billion pounds previously.

Enova International (ENVA) rose 3% after it reported Q2 adjusted earnings Thursday of $1.64 per share, down from $2.26 a year earlier but ahead of the $1.53 estimate in a Capital IQ poll of analysts.

Ares Capital (ARCC) fell nearly 3% after the company said Thursday it has priced a public offering of 8 million shares.

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