US SMALL/MIDCAPS-United Bankshares leads financials higher

NEW YORK, Jan 27 (BestGrowthStock) – Financials led mid- and small
cap stocks higher on Wednesday with United Bankshares Inc
(UBSI.O: ) among the top performers after posting better than
expected results.

The recall of automobiles by Japanese carmaker Toyota Motor
Corp (7203.T: ) (TM.N: ) took a toll on shares of dealers and
suppliers Wednesday.

Small cap United Bankshares jumped 9.6 percent to $23.93 as
quarterly earnings per share came in slightly higher than
expected.

The S&P midcap financial sector (.4GSPF: ) rose 1 percent and
the smallcap financials (.6GSPF: ) added 2 percent.

Webster Financial Corp (WBS.N: ) led percentage gains in the
midcap financial sector, up 6.1 percent to $16.08.

However, South Financial Group Inc (TSFG.O: ) posted its
eighth straight quarterly loss and warned credit woes may not
be over yet. Its shares tumbled 31.5 percent to 47 cents. For
details see [ID:nSGE60P0D8].

The S&P MidCap 400 index (.MID: ) added 0.2 percent and the
S&P SmallCap 600 index (.SML: ) rose 1 percent. In comparison,
the benchmark S&P 500 (.SPX: ) gained 0.5 percent.

Toyota halted production and issued recalls due to problems
with faulty accelerators, sending its Wall Street-traded shares
more than 8 percent lower.

Smallcap CTS Corp (CTS.N: ), which supplies the accelerator
pedals at the center of the problem, fell more than 20 percent
at one point but closed only 2.4 percent down, at $8.42. For
details, click here: [ID:nN2753594]

Shares of smallcap Group 1 Automotive (GPI.N: ), the No. 4
U.S. auto dealership group, dropped 6.1 percent to $29.54.

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US SMALL/MIDCAPS-United Bankshares leads financials higher