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Financial Sector Update for 06/18/2020: BILL,QIWI

Financial stocks were declining, with the NYSE Financial Index dropping 0.4% although the SPDR Financial Select Sector ETF was falling just 0.1%.

The Philadelphia Housing Index was sinking 1.0%.

In company news, Bill.com (BILL) rose 6.8% after the financial software firm late Wednesday said it revised its agreement this week with Intuit (INTU) extending its term by another three years until June 26, 2023. Under terms of the new agreement, disclosed in a new regulatory filing, the companies also will jointly market and promote Bill.com’s advanced payments and workflow automation applications to QuickBooks Online customers.

Qiwi plc (QIWI) climbed 6.7% after the payments processing company late Wednesday said it plans to sell its Sovest consumer lending business to Russian financial-services firm Sovcombank.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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