State Street data unchanged, stock price falls

BOSTON, May 13 (Reuters) - Financial services group State Street Corp. (STT.N: Quote, Profile, Research, Stock Buzz) said on Tuesday that unrealized losses on its investment portfolio are steady at $1.9 billion, but the news sent its shares down as investors had hoped for a smaller number.

"The unrealized loss is about the same," State Street's Chief Financial Officer Ed Resch told analysts at the UBS conference in New York.

While the company benefited as credit spreads came in during April and that helped shrink the total of unrealized losses, Resch explained that this positive effect was offset as the Treasury market backed up.

Investors sent the company's share price down 3.6 percent, or $2.69, to $71.98 in early trading on the New York Stock Exchange.

"I think what might have investors spooked is that this is not a simple problem to fix," RBC Capital analyst Gerard Cassidy said. "As credit spreads narrowed, people hoped that the problem of unrealized losses would be taken care of, but it wasn't," he added.

State Street is one of the world's biggest institutional asset managers. (Reporting by Svea Herbst-Bayliss, editing by Maureen Bavdek)