Monday's Financial Winners & Losers

Financial stocks were at the whim of the broad market Monday, flitting in and out of the green on a mixed array of news.

Accredited Home Lenders (LEND Quote) ranked among the biggest winners after asset manager Lone Star extended until Aug. 14 its $15.10 per-share offer to buy the subprime-mortgage lender, having not yet obtained all necessary regulatory approvals. Shares were climbing 54 cents, or 5.7%, to $10.03.

HSBC (HBC Quote) was also riding high after the Britain-based bank reported basic per-share earnings of 95 cents in the first half of 2007 -- a 21.8% jump in from the same period last year. Total operating income came to $42.1 million. Shares were up $3.10, or 3.5%, to $92.05.

Elsewhere, Bear Stearns (BSC Quote) traded actively after its private-equity affiliate agreed to buy Monaco-based MC Shipping (MCX Quote) for about $284 million. The deal isn't conditioned on governmental or regulatory clearance, so it should close immediately on shareholder approval, the vote for which is scheduled for Sept. 5. Bear Stearns shares were recently up 2.1% to $125.71.

Bear Stearns also upped ACE (ACE Quote), an insurer, to outperform, as credit-swaps seller Primus Guaranty (PRS Quote) garnered a buy rating at Calyon Securities. The Bermuda-based companies were respectively adding 1.8% to $58.36 and 5.2% to $9.55.

The NYSE Financial Sector Index, which tracks most of the above names, gained 0.4% to 9,044.78 as the KBW Bank Index leapt 1.1% to 106.74 to outperform the major indices.