Financials Flat After Big Gains -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies were little changed, consolidating substantial gains in the previous session.

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Warren Buffett's Berkshire Hathaway said it would buy 700 million Bank of America Corp. shares via warrants at below-market prices, a deal that places the firm as the bank's largest shareholder. Buffett's move was widely expected after Goldman Sachs Asset Management sold at least $300 million of the $2.8 billion in Venezuelan bonds it acquired in a deal involving the country's central bank, The Wall Street Journal reported. The bond purchase was widely criticized as it helped fund the authoritarian regime of Nicolas Maduro.

HSBC Holdings received regulatory approval to operate a majority-owned joint-venture securities company based in China, the first foreign bank to do so.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 30, 2017 17:57 ET (21:57 GMT)