Financial stocks continued to edge higher during late Tuesday trade, with the NYSE Financial Sector Index climbing about 0.2% while financial companies in the S&P 500 Index also were adding nearly 0.2% in value.
In company news, KKR & Co. LP (KKR) turned lower late Tuesday, giving back a prior advance that followed reports the private equity firm may be at the front of the pack of potential buyers for Hitachi’s power-tools unit.
Talks were continuing and the Japanese conglomerate is said to have given KKR preferential negotiation rights after it offered the best terms for Hitachi Koki, according to a report by Nikkei, the Japanese business newswire. A final deal could exceed 150 billion yen, or about $1.27 billion, the story said, without saying how it obtained the information.
By Prospect Staff Writer