Sector Update: Financial Stocks Edge Higher Premarket Monday

MT Newswires Live

03-03

Financial stocks were edging higher pre-bell Monday, with The Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.

ING (ING) shares were up over 4% after the company said it initiated a share repurchase program with a maximum value of 70 million euros ($73.2 million) to fulfill obligations related to share-based compensation plans.

Ready Capital (RC) stock was more than 17% lower after the company reported that it swung to a Q4 loss as revenue declined during the period.

Burford Capital (BUR) shares were down nearly 6% after the company reported that it swung to a Q4 loss amid lower revenue.

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