Financial stocks rose premarket Wednesday with the Financial Select Sector SPDR Fund (XLF) recently advancing by 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.

Stellus Capital Investment (SCM) shares were up more than 2% after the company priced a public offering of $75 million of 7.25% notes due 2030.

Banco Santander (SAN) is looking to sell a portfolio of Spanish mortgages worth about 462 million euro ($498.7 million), Bloomberg News reported, citing sources familiar with the matter. Shares of Banco Santander were 0.6% lower premarket.

UBS (UBS) is seeking to prevent the imposition of tougher Swiss banking regulations by proposing it limit the size of its investment banking operations to 30% of its business and hold up to $5 billion more in capital reserves, Reuters reported, citing people familiar with the discussions. UBS shares were 0.1% higher pre-bell.