Financials Up as Fed Minutes Seen Positive for Treasury Rates -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies ticked up after minutes from the Federal Reserve's latest meeting indicated the central bank would begin paring down its bond portfolio in the coming months.

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Officials debated exactly when they should launch those plans, with several arguing the Fed had sufficiently prepared markets to move soon, while others suggested waiting for more proof that inflation would pick up, according to minutes of the central bank's June meeting. Some Fed officials raised the risk of a stock-market correction, saying the muted volatility in stocks is a sign of complacency.

U.S. credit-card processor Vantiv agreed to buy U.K. rival Worldpay Group for about $10 billion, warding off a potential rival bid from global banking giant J.P. Morgan Chase.

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

(END) Dow Jones Newswires

July 05, 2017 16:28 ET (20:28 GMT)