Updated from 2:13 p.m. EDT
Most financial stocks traded lower Wednesday, averaging a notch below the slipping broader market, despite several pieces of good news out of the sector.
One of the biggest financial winners was eSpeed (ESPD Quote), which was climbing 1.9% earlier in the day and closed up 0.4%, or 4 cents, to $9.23 in unusually heavy trading after it agreed to buy BGC Partners from bond dealer Cantor Fitzgerald for $1.22 billion in stock. The deal values eSpeed shares at a premium of $9.75 apiece and includes the issuance of some 133.9 million new shares of the online broker.
Also higher were Chicago Board of Trade (BOT Quote) and -- following a shaky start -- IntercontinentalExchange (ICE Quote) -- after the ICE struck a deal with the Chicago Board Options Exchange that effectively bolsters its hostile bid for the CBOT. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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