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FINWIRES

Sector Update: Financial Stocks Decline Thursday Afternoon

-- Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index dropping 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.

The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.6%.

Bitcoin (BTC-USD) was decreasing 1.4% to $77,791, and the yield for 10-year US Treasuries was rising 4.3 basis points to 4.337%.

In economic news, US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.

The April flash reading of manufacturing conditions from S&P Global improved to a 47-month high of 54.0 from 52.3 in March, compared with the 52.5 anticipated in a Bloomberg-compiled poll.

In corporate news, Barclays (BCS) has alleged that capital was fraudulently routed across the corporate network of Market Financial Solutions on a significant scale, Bloomberg reported, citing High Court documents. Barclays shares fell 2.3%.

Banco Santander (SAN) shares dropped 3% after the company said it will temporarily suspend its share buyback program pending approval from US lender Webster Financial's (WBS) shareholders of a proposed takeover by the Spanish bank.

Voya Financial (VOYA) has been encouraged by activist investor Toms Capital Investment Management to put itself up for sale or offload its underperforming health insurer business, the Financial Times reported. Voya shares jumped 5%.

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