Financial shares are down in late-session trading while JPMorgan Chase (JPM) extends early-session losses to trade down over 2%. In late-session financial sector news, shares of Solar Senior Capital (SUNS) are down even as its board of directors has declared its first dividend payment of $0.05 per share for the month of June 2011. Meanwhile, JPMorgan Chase (JPM) shares are lower into the late session after reports that the bank is looking to dismiss a $6.4 billion lawsuit by the trustee handling the liquidation of the firm once owned by Bernard Madoff. The bank says the trustee does not have the right to sue on behalf of Madoff's investors.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...