Sector Update: Financial Stocks Advance Pre-Bell Monday

MT Newswires Live11-25 22:16

Financial stocks were advancing pre-bell Monday with the Financial Select Sector SPDR Fund (XLF) 0.8% higher recently.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 2.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.

Apollo Global Management-backed (APO) Global Schools Holdings is exploring options, including a minority stake sale to help raise cash and expand the business, Bloomberg reported, citing people familiar with the matter. Apollo Global Management shares were up over 2% premarket.

Barclays (BCS) was fined 40 million UK pounds ($50.3 million) for failure to disclose financial arrangements that were allegedly "reckless and lacked integrity" with entities in Qatar during the 2008 financial crisis, the UK's Financial Conduct Authority said in a statement. Barclays shares advanced by 3% pre-bell.

Morgan Stanley (MS) has received regulatory approval to set up its Middle East headquarters in Riyadh, Saudi Arabia, Bloomberg reported, citing Abdulaziz Alajaji, the bank's chief executive for Saudi Arabia as saying in a statement. Morgan Stanley shares were 0.9% higher pre-bell.

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