01:42 PM EDT, 08/27/2025 (MT Newswires) -- Financial stocks advanced in Wednesday afternoon trading, with the NYSE Financial Index rising 0.3% and the Financial Select Sector SPDR Fund (XLF) climbing 0.4%.

The Philadelphia Housing Index declined 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.4%.

Bitcoin (BTC-USD) rose 0.2% to $112,013, and the yield for 10-year US Treasuries was little changed at 4.25%.

In economic news, mortgage applications fell by 0.5% in the week ended Aug. 22 on a decline in refinancing applications that was partially offset by an increase in purchase applications, according to Mortgage Bankers Association data released Wednesday.

In corporate news, Aspen Insurance ( AHL ) agreed to be acquired by Japan's Sompo Holdings for $3.5 billion in cash, or $37.50 a share. Aspen stock jumped 13%.

Elliott Investment Management has taken a stake in Rexford Industrial Realty ( REXR ) that makes it one of the top five investors in the real estate investment trust, Bloomberg reported. Rexford shares climbed past 4%.

PayPal ( PYPL ) attributed the irregularities experienced by multiple German banks to a recent service disruption, Bloomberg reported. PayPal ( PYPL ) said the issue has been fixed and payment processing is back to normal, a company spokesperson told Bloomberg, adding that the disruption was not caused by a data or systems compromise. PayPal ( PYPL ) shares were shedding 0.8%.