Regional-bank stocks move up after PacWest deal suggests stabilization in sector

Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding.

The... Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. The SPDR S&P Regional Banking exchange-traded fund KRE moved up by 3.8%, with 136 of 139 equity components moving into positive territory.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PacWest stock flash crash recovers after rescue merger with Banc of CaliUS banking crisis fears arose again as PacWest stock flash crashed before it was rescued in a merger deal with the Banc of California. PacWest Bancorp stock slumped from $10.33 to $7.50 in late trading on July 25, sparking concern among the finance and crypto community, with some asking if “the next banking collapse” was starting.
Source: Cointelegraph - 🏆 562. / 51 Read more »