Financial stocks declined pre-bell Thursday with the Financial Select Sector SPDR Fund (XLF) 3.8% lower recently.
The Direxion Daily Financial Bull 3X Shares (FAS) was down 11% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 11.8% higher.
BlackRock (BLK) has received approval from the European Commission for its proposed acquisition of HPS, the regulator said. Shares of BlackRock were down over 4% premarket.
State Street Global Advisors, the asset management unit of State Street (STT), said it has acquired a stake in investment platform Ethic and launched a partnership to expand customized investment offerings. Shares of State Street fell past 4% pre-bell.
TowneBank (TOWN) has agreed to buy Old Point Financial (OPOF) for about $203 million, the companies said. Shares of Old Point Financial surged by over 25% premarket, while TowneBank fell by more than 10%.
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