Financials Flat on Tax Package View -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies were flat as traders bet the Republican Congress would pass a tax-cut package.

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"While there are significant differences between the two plans, the simple reality is that it would be political suicide for Republicans if they don't pass tax reform before next year's elections," said Bob Doll, chief equity strategist with money manager Nuveen Asset Management, in a note to clients.

Shares of mall owner GGP rallied after commercial property investor Brookfield Property Partners made a $14.8 billion offer to buy the shares the company that it doesn't already own. Shares of Brookfield Property declined.

Apollo Global Management promoted two executives, Scott Kleinman and James Zelter, to serve in the newly created role of co-president. In recent months, several leveraged-buyout firms have rejiggered their leadership, allowing founders to step back from operations and younger executives to take on more prominent roles.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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November 13, 2017 17:25 ET (22:25 GMT)