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HU3 - Huntington Bancshares Inc News Story

€7.55 -0.2  -2.0%

Last Trade - 7:05am

Sector
Financials
Size
Large Cap
Market Cap £7.10bn
Enterprise Value £15.20bn
Revenue £3.67bn
Position in Universe 118th / 1041

BUZZ-U.S. Financials ETF: Finds lines on the charts, digs in

Wed 18th April, 2018 5:17pm
** Financials .SPSY among the lagging S&P 500 .SPX sectors so far this year as flattening yield curve remains a drag urn:newsml:reuters.com:*:nL1N1RU1H3 urn:newsml:reuters.com:*:nL4N1RH4XK ** That said, Financial Select Sector SPDR Fund XLF.P mounting stand at support line convergence, can attempt to play catch up ** SPSY down ~1 pct YTD while SPX gains 1.6 pct. SPX underpinned by tech's .SPLRCT 7.4 pct sector leading rise. Tech >25 pct of SPX $24.24 trln total value vs only about 14 pct for fins urn:newsml:reuters.com:*:nL1N1R30WM ** Nevertheless, as tech leads, Fins lag, value once again gives up the ghost vs growth urn:newsml:reuters.com:*:nL1N1RP15C urn:newsml:reuters.com:*:nL1N1RP0JW urn:newsml:reuters.com:*:nL1N1QW1E4 ** And this with major banks seeing choppy trade in response to recent qtrly results urn:newsml:reuters.com:*:nL3N1RU5AK urn:newsml:reuters.com:*:nL1N1RT0U6 urn:newsml:reuters.com:*:nL3N1RQ55I ** Meanwhile, XLF, with its $26.55 Apr low, mounting stand at convergence of monthly trend lines: former channel resistance from 2010 (~$26.75) and support line from mid-2016 (~$26.40). Chart: https://reut.rs/2JXu7En ** Additionally, rising 12-MMA (~$26.61) also seen as significant support; XLF has not closed below 12-MMA since Jun 2016 ** Thus, XLF may have reached fertile ground from which to resume its advance urn:newsml:reuters.com:*:nL1N1RV0K8 ** However, even with a rally, financials have work to do to move from being a laggard to a leader; XLF/SPX ratio falling again ** Renewed XLF advance can see it aim at its early 2018 high ($30.33) ahead of its 2007 record high ($30.98). Financials only SPX sector that has yet to exceed its peak just prior to the financial crisis ** XLF monthly close below support zone can threaten much deeper bear turn, may see fins remain a significant underperformer <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ XLF 0418 2018 B https://reut.rs/2JXu7En ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> ((RM: terence.gabriel.tr.com@reuters.net (terence.gabriel@tr.com 646-223-4122))
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