Financial stocks extended their Thursday advance during afternoon trading, with the NYSE Financial Index rising 1.0% and the SPDR Financial Select Sector ETF (XLF) ahead 1.5%.
The Philadelphia Housing Index was rising 0.3% while the SPDR Real Estate Select Sector ETF (XLRE) was adding 0.2%.
Bitcoin was increasing 0.8% to $19,266, while the yield for 10-year US Treasuries was climbing 2.7 basis points to 3.292%.
In company news, Trupanion (TRUP) gained 3.1% after the pet-health care insurance company late Wednesday announced its August 31 purchase of Smart Paws GmbH, expanding its operations into Germany and Switzerland. Financial terms of the transaction were not disclosed.
Credit Suisse Group (CS) climbed 1.2% amid reports that the investment bank will be buying the 49% of its joint venture in China with Founder Securities it doesn't already own for 1.14 billion renminbi, according to a Founder regulatory filing on the Shanghai Stock Exchange obtained by Reuters.
To the downside, Future FinTech (FTFT) slipped 0.5% after saying its Future FinTech unit in Hong Kong has signed a memorandum of understanding to acquire Alpha International Securities from an affiliate of London-listed Alpha Financial Markets. Financial terms of the deal will be determined following due diligence and a financial audit, the companies said.
Forge Global Holdings (FRGE) turned 2.8% lower late in Thursday trading, giving back a nearly 17% advance, after the private-equity trading platform company announced plans for a European expansion through a partnership with the Deutsche Borse Group. A mid-2023 launch of the digital network is expected beginning in Germany, the UK and France before expanding to the rest of Europe, Forge said.
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