Jefferies Stock Rises on Reports of Potential Sumitomo Mitsui Takeover Interest

Jefferies Group's shares rose 2.7% after reports of a potential takeover by Japan's Sumitomo Mitsui Financial Group. The two companies have been deepening ties, with SMFG increasing its stake to 20% last year. Jefferies faces investor scrutiny, with its shares down nearly 40% YTD, but analysts expect strong earnings in investment banking and capital management. SMFG has not confirmed any takeover plans.