Sector Update: Financial Stocks Advance Premarket Friday

MT Newswires Live
Sep 19

Financial stocks were advancing premarket Friday, with The Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.9% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.7%.

Lloyds Banking (LYG) is selling a significant risk transfer linked to around 500 million British pounds ($682.3 million) of commercial real estate loans, Bloomberg reported, according to people familiar with the matter. Shares of Lloyds Banking Group were down more than 2% pre-bell.

Genworth Financial (GNW) shares were up more than 1% after the company said its board has authorized new share buyback of up to $350 million of common stock, with no set expiration date.

Deutsche Bank (DB) Chief Executive Christian Sewing is set to face a multimillion-pound lawsuit filed by five former employees, Financial Times reported, citing unnamed people familiar with the matter. Deutsche Bank shares were 0.1% lower premarket.

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