US Financial Companies Lose Their Early Gains (XLF)

After climbing in morning trading, leading US financial companies lost most of their gains as weak US non-manufacturing data for the month of June forced investors to reign in their optimism.

The Financial Select Sector SPDR exchange-traded fund (NYSE:XLF) , which tracks the financial stocks in the S&P 500 Index, was up only 0.37%, after climbing 3% in morning trade. Last week, financial stocks in the S&P 500 index had slipped gradually, with around 13 companies sitting near their 52-week lows.

Today’s top gainers were Regions Financial Corp (NYSE: RF) and KeyCorp (NYSE: KEY), both of which had added about 2.5%. ProLogis (NYSE: PLD) lead the decliners, with shares down 20.02%. Kimco Realty Corp (NYSE: KIM), which fell 2.92%, and Vornado Realty Trust, which lost 0.04%.

Read more from Benzinga's Markets.