Sector Update: Financial Stocks Higher Late Afternoon

MT Newswires Live
Aug 28, 2025

Financial stocks advanced in late Wednesday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) rising 0.4%.

The Philadelphia Housing Index declined 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.6%.

Bitcoin (BTC-USD) rose 1.1% to $112,194, and the yield for 10-year US Treasuries declined 1.6 basis points to 4.24%.

In economic news, mortgage applications fell by 0.5% in the week ended Friday on a decline in refinancing applications that was partially offset by an increase in purchase applications, according to Mortgage Bankers Association data.

In corporate news, Apollo Global Management (APO) held early talks with advisers to Coca-Cola (KO) about a potential bid for UK coffee chain Costa Coffee, Sky News reported. Apollo shares rose 1.3%.

Blackstone (BX) plans to expand its data center project in Spain's Aragon region with an additional 4.3 billion euros ($5.03 billion) investment, Reuters reported. Blackstone shares added 0.4%.

Aspen Insurance (AHL) agreed to be acquired by Japan's Sompo Holdings for $3.5 billion in cash, or $37.50 a share. Aspen stock jumped more than 13%.

Elliott Investment Management has taken a stake in Rexford Industrial Realty (REXR) that makes it one of the top five investors in the real estate investment trust, Bloomberg reported. Rexford shares climbed 5%.

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