Sector Update: Financial Stocks Edge Higher Pre-Bell Friday
Financial stocks were edging higher pre-bell Friday with the Financial Select Sector SPDR Fund (XLF) recently up 0.2%.
The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.
Fanhua (FANH) was over 2% higher after saying its board approved an additional $20 million share buyback capacity, increasing its share repurchase program to $40 million.
BAWAG Group said it acquired Hamburg-based Barclays Consumer Bank Europe from Barclays Bank (BCS) Ireland to expand its footprint in the Germany, Austria, and Switzerland region. Barclays rose past 2% premarket.
Deutsche Bank (DB) is pursuing several existing lenders to buy a stake in a HK$10.2 billion ($1.3 billion) project loan supporting a luxury property development in Hong Kong, Bloomberg News reported, citing people familiar with the matter. Deutsche Bank was unchanged pre-bell.
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