Financials Up On Favorable Financial Conditions -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies rose as they were set to benefit from deal activity and inflows into global stock and corporate-bond markets.

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HSBC Holdings shares rose after the London-Hong Kong lender said it planned to buy back another $2 billion in shares, in addition to the $3.5 billion it has repurchased since last year.

One brokerage reiterated a bullish 2700 target for the broad Standard & Poor's 500 in the wake of a strong earnings season. "Support for this view in the second quarter has come from above consensus sales and EPS growth, positive guidance, rising forward estimates and incremental operating margins," said analysts at brokerage Morgan Stanley, in a research note.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

July 31, 2017 16:44 ET (20:44 GMT)