Shares of banks and other financial institutions rose as traders chased gains in one of the leading 2025 sectors.
Treasury yields slipped, stirring hopes that elevated rates will benefit banks' profit margins without rising so high that they destroy loan demand.
T. Rowe Price shares fell after the fund manager said its assets under management slipped in the latest quarter, a trend it expects to reverse soon.
Spain's biggest lender, Banco Santander, said it plans to buy back 10 billion euros, or about $10.38 billion, of its own stock after it reported fourth-quarter results that exceeded expectations, sending shares sharply higher.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 05, 2025 17:10 ET (22:10 GMT)
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