Monday's Financial Winners & Losers
Updated from 1:33 p.m. EST with new stock prices
On this last trading day of 2007, the financial sector tiptoed higher in piddling volume along with the major indices. The market will close tomorrow for New Year's Day.
The NYSE Financial Sector Index was up 17.88 points, or 0.2%, to 8,300.68. The narrower KBW Bank Index added 0.3% to 88.58, while the Amex Securities Broker-Dealer tracker was up 0.5% at 207.42.
The first and last of those were each bouyed by Merrill Lynch (MER). Merrill's shares lost some ground after Britain's The Observer reported that the struggling brokerage is in more cash-infusion talks, this time with sovereign wealth funds in China and the Middle East. A week ago, Merrill announced it will get up to $4.4 billion from Singapore-based Temasek Holdings, as well as $1.2 billion from Davis Selected Advisors, by selling chunks of equity at a discount.
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