Financials Gain Amid Deal Activity - Financials Roundup

Shares of banks and other financial institutions rose amid deal activity.

Monte dei Paschi di Siena gained control of 86.3% of rival Mediobanca, in a deal that values the bank at around $19 billion.

UBS Group said it would pay roughly $985.6 million in France to resolve a long-running case over its role in helping wealthy clients evade taxes.

Canadian lender Bank of Montreal recently explored a sale of some of its U.S. branches with roughly $6 billion in deposits, as it digests recently acquired Bank of the West.

Treasury yields fell after Federal Reserve Chair Jerome Powell said interest rates were still modestly restrictive, leaving room for more rate cuts. Much will depend on inflation and economic data, with voting members of the rate-setting committee divided on which is the greater threat to Americans' wellbeing -- rising prices or a shrinking jobs market.

Some central-bank officials, like Fed governor Michelle Bowman, continue to warn that materially weaker labor conditions call for a more neutral stance on rates. But others, including Atlanta Fed President Raphael Bostic, are highlighting the risks of higher inflation, and advocating a more measured approach to policy.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

September 23, 2025 17:33 ET (21:33 GMT)