Financials Firm After Yellen Testimony - Financials Roundup

FeaturesDow Jones Newswires

Banks, lenders and other financial companies rose, but not by as much as the broad market, after Federal Reserve Chairwoman Janet Yellen hinted that the central bank could pause its rate-hike cycle unless price inflation returned to expected levels. Royal Bank of Scotland agreed to pay $5.5 billion to the Federal Housing Finance Agency to settle a probe into its sale of toxic mortgage-backed securities in the run-up to the financial crisis, clearing one of the last hurdles for the British bank to raise its dividend and put its period as a state-supported institution behind it. Analysts at brokerage Nomura Securities said credit-card providers such as Capital One are seeing less pressure from delinquent payments in recent months. "Although credit trends remain in focus in the near term, overall healthy labor markets point to a relatively benign credit environment," said the Nomura Securities analysts, in a note to clients.

-Rob Curran,

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(END) Dow Jones Newswires

July 12, 2017 16:31 ET (20:31 GMT)