Japan’s Nikkei 225 rose 3.12% to 65,316.79 on May 25, first closing above 65,000, after intraday highs of 65,408.57. Topix gained 1.39% to 3,946.67. Reuters reports optimism over US-Iran talks: Trump said a memorandum was “largely negotiated” to reopen the Strait of Hormuz, though he later urged no rush. Oil prices fell, lifting risk sentiment; Nomura’s Maki Sawada cited remaining deal uncertainty.
Massachusetts banks are expanding into New Hampshire as residents and businesses migrate north. Cambridge Savings Bank ($7B) will buy First Seacoast Bank for $80.9M cash, pending approvals. The article cites other deals (Rockland Trust, Needham Bank, and Camden National). It notes NH has 42 deposit banks vs 120 in MA, and that NH gained six MA companies and 500 jobs last year.
Truist Financial Corp significantly increased its stake in Rocket Companies (NYSE:RKT) by 291.9% in the fourth quarter, purchasing an additional 82,873 shares to reach a total of 111,265 shares valued at $2.15 million. Despite this acquisition and Rocket Companies beating first-quarter earnings expectations, the stock has recently fallen by 6.6% to $13.82, trading well below its 52-week high. Analysts currently maintain a consensus "Hold" rating for RKT with a price target of $20.93.
