Financials Stocks Up, With Treasury Yields, After Jobs Report - Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies rose as Treasury yields ticked up in the wake of a strong jobs report. Treasury yields rose because the jobs report "slightly moved the needle on whether or not we have another Fed rate hike this year," said Quincy Krosby, chief market strategist at Prudential Financial. Many investors in the financial sector -- particularly those focused on life insurers and commercial banks -- are counting on rate increases to bolster the companies' profitability. Shares of Royal Bank of Scotland rose after it swung to a net profit for the first half of 2017, finally putting its financial-crisis era losses and litigation behind it. Leveraged buyout firms Blackstone and CVC agreed to buy online-payments processor Paysafe for $3.89 billion.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 04, 2017 16:32 ET (20:32 GMT)