Sector Update: Financial Stocks Rise Wednesday Afternoon

01:42 PM EST, 12/03/2025 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) ahead 1.2%.

The Philadelphia Housing Index was climbing 2.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.2%.

Bitcoin (BTC-USD) was increasing 1.9% to $93,102, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%.

In economic news, employment in the US private sector surprisingly fell in November, ADP, a payroll processing firm, said Wednesday. Jobs fell by 32,000, versus consensus for a 10,000 increase in a Bloomberg-compiled survey.

The Institute for Supply Management's US services index rose to 52.6 in November from 52.4 in October, compared with expectations for 52.0 in a survey compiled by Bloomberg.

In corporate news, Prudential Financial (PRU) is mulling selling its stake in South Africa-based Alexforbes, Bloomberg reported. The US insurer has informed both Alexforbes and African Rainbow Capital, led by billionaire Patrice Motsepe, about a potential divestment, the media outlet reported. Prudential shares rose 1.7%.

Royal Bank of Canada (RY) shares gained 1.1% after it reported higher fiscal Q4 adjusted earnings and revenue.

BBVA (BBVA) Chief Executive Onur Genc said the Spanish bank is not planning any M&A deals in Italy, Il Sole 24 Ore Radiocor reported, citing comments on the sidelines of a press meeting in Milan. BBVA shares were down 0.5%.

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