Jefferies shares fall on 135 million dollar MFS exposure
Jefferies shares fell over 7 percent after reports of a 135 million dollar exposure to MFS. The UK mortgage lender entered insolvency earlier this week.
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Jefferies Financial Group Inc. is facing a financial exposure of approximately £100 million ($135 million) following the collapse of Market Financial Solutions (MFS). The mortgage-finance firm entered a form of insolvency in the United Kingdom this week, according to reports from Bloomberg News.
The exposure has significantly impacted the investment bank's stock performance, with shares dropping more than 7.2% in afternoon trading on Thursday. MFS operated as a specialist lender in the mortgage market before its recent financial difficulties led to the insolvency proceedings.
