US financial Sector Down, Led By M&T Bank (MTB, AIB, CBG, MROE, ONB, ABK, PMI)
The US financial sector was slightly down, after the weaker-than-expected private-sector employment report. Shares of M&T Bank Corp (NYSE: MTB) fell after a major shareholder announced its plans to sell its stake.
Shares of MTB dropped about 5.41% to lead the list of financial decliners in the S&P 500 Index, which was down by 0.34%. Allied Irish Banks (NYSE: AIB) has announced its plans to unload its 22.4% stake in M&T.
Shares of CB Richard Ellis Group Inc (NYSE: CBG) gained about 2.94% after the company priced a $350 million note offering, yesterday.
Shares of Monroe Bancorp (NASDAQ: MROE) jumped about 107.25% after Old National Bancorp (NYSE: ONB) agreed to purchase MROE for about $83.5 million or $13.35 per share, representing a premium of 148% to MROE's closing price on Tuesday.
Shares of Ambac Financial Group Inc (NYSE: ABK) climbed about 24.34%, while the shares of PMI Group Inc (NYSE: PMI) gained about 7.09%.
The Financial Select Sector SPDR Fund (XLF) is down about 0.10%, after a rise of 2.3% on Tuesday.
Read more from Benzinga's Markets.
