ING Sheds Another Unit, REITs Jittery After Election: Financial Business Review
ING Groep (NYSE:ING) withdraws from another profitable unit, this time its United Kingdom machinery leasing operation, as it continues to raise cash. This new move will leave a void in the British economy since ING was the major in that particular market.
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The mortgage real estate investment trust sector is on edge following last night’s election results which assure that the Federal Reserve will continue to press on the leveraged operators’ net interest margins. Annaly Capital Management (NYSE:NLY) may the purest of the pure-play agency REITs, but it is still feeling the effects from its weak earnings as posted on Monday and is now helping to lead sector firms such as American Capital Agency Corp. (NASDAQ:AGNC), Hatteras Financial Corp. (NYSE:HTS), and Two Harbors Investment Corp. (AMEX:TWO) to the downside.