Financials Down As Traders Still Await Rate Rises - Financials Roundup

FeaturesDow Jones Newswires

Banks, lenders and other financial companies ticked down as traders hedged their bets on the outlook for interest rates. After rising the most since September last week, the yield on the 10-year Treasury note ticked up Tuesday and is close to unchanged on the year. Mitsubishi UFJ Financial Group said it planned to take a majority stake in a midsize Indonesian bank in a deal likely to top $4 billion, bolstering its presence in a fast-growing Asian nation to balance weakness at home. Capital One is reducing the share repurchases it authorized earlier this year to up to $1 billion from $1.85 billion due to additional tax expenses the credit-card provider expects to be triggered by recently passed legislation.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

December 26, 2017 17:17 ET (22:17 GMT)