Financial stocks were advancing pre-bell Tuesday, with the Financial Select Sector SPDR Fund (XLF) 0.3% higher.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% lower.

Deutsche Bank (DB) is under European Central Bank review over allegations it understated risks and overstated financial strength, the Financial Times reported, citing people familiar with the matter. Deutsche Bank shares were up more than 2% premarket.

BlackRock (BLK) is looking to boost its investments in the Middle East over the next few years, particularly in Saudi Arabia, Bloomberg reported. BlackRock stock was 0.9% higher pre-bell.

KKR (KKR)-led consortium has sold its stake in a Hyatt Regency hotel in Tokyo for more than $800 million to an unidentified buyer, The Wall Street Journal reported, citing people familiar with the situation. KKR shares were down more than 1% premarket.