Sector Update: Consumer Stocks Flat to Higher Pre-Bell Monday

MT Newswires Live11-18

Consumer stocks were flat to higher pre-bell Monday as the Consumer Staples Select Sector SPDR Fund (XLP) was inactive and the Consumer Discretionary Select Sector SPDR Fund (XLY) recently advanced by 1.3%.

MakeMyTrip (MMYT) shares were almost 1% higher after the company said it agreed to acquire CRED's Happay Expense Management Platform.

Bunge Global (BG) shares were over 1% higher after the company said it was expanding its existing stock buyback program, authorizing the repurchase of an additional $500 million of its outstanding shares, on top of the approximately $800 million remaining under the current authorization as of Sept. 30.

Alibaba Group (BABA) is planning to raise $5 billion through dollar and offshore yuan bonds, Reuters reported, citing two sources with direct knowledge of the matter. Alibaba shares were up 0.1% premarket.

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