Financials Up Amid Axa Deal, Treasury Yield Rise -- Financials Roundup
March 05 2018 - 3:49PM
Dow Jones News
Banks, lenders and other financial companies rose alongside
Treasury yields and as a major merger lifted shares of
property-and-casualty insurers. Tariff moves can affect Treasury
yields, particularly in the area of inflation-protected bonds, as
illustrated after tariff impositions by former President George W.
Bush and former President Barack Obama, said analysts at brokerage
Morgan Stanley, in a research note. French financial giant AXA said
it would buy New York-listed insurance company XL Group for $15.3
billion on Monday, creating one of the world's largest property and
casualty insurers after one of the most expensive years on record
for catastrophe claims. Rivals such as Chubb and Travelers rose in
sympathy. Berkshire Hathaway's real-estate brokerage network is
adding its first international franchisee, in Berlin, broadening
the conglomerate's ties to Germany.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
March 05, 2018 16:34 ET (21:34 GMT)
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