Shares of banks and other financial institutions rallied after strong earnings from one Asia-focused London lender.
Global banking giant HSBC's profit rose in the third quarter, as rising interest rates worldwide continue to bolster bank earnings. The bank's profit attributable to ordinary shareholders increased to about $5.6 billion in the three months through September.
Realty Income agreed to buy rival real-estate investment trust Spirit Realty Capital in an all-stock deal valued at about $9.3 billion.
The yield on the 10-year Treasury rose for the sixth consecutive month. Some strategists say the move in yields has given the Federal Reserve space to slow interest rates because the bond-market moves will slow the inflation fight.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-30-23 1750ET
