Financial Sector Wrap

Published July 10, 2012

| FOXBusiness

During trading today, both the Financial sector (XLF) and the S&P500 showed little movement.

The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past week. Going into trading today, XLF was down 2.6% over the last seven trading days while the S&P 500 went up -1.7%.

First South Bancorp (FSBK) was a significant gainer in the sector, rising 13%. The stock closed at $4.18 with 4,122 shares moving. The stock traded in a range of $3.80 to $4.18. Bank of SC Corporation (BKSC) was another big mover, climbing $1.40 (+12.6%) to a closing price of $12.50.

MBIA (MBI) was a major loser in the sector. Its price dropped 9% (-95 cents) to close at $9.66, as 7.3 million shares moved. The stock traded in a range of $9.35 to $10.23. Shares are down $1.25 (-11.5%) from a price of $10.91 on July 2, 2012.

Sabine Royalty (SBR) fell 3.6% to close at $54, crossing its 50-day moving average of $50.25. Meanwhile, Duff & Phelps (DUF) climbed 3.8% to close at $14.98, moving past its 200-day moving average of $14.76.

CIT Group (MA) fell 3.2% to close at $34.99, moving closer to its 50-day moving average of $34.82. Also, the stock moved closer to its 200-day moving average of $408.82. Presidential Life (PLFE) rose 5.4% to close at $10.21, getting closer to its 200-day moving average or $10.39.

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http://www.foxbusiness.com/markets/2012/07/10/financial-sector-wrap/