Sector Update: Financial Stocks Advance Pre-Bell Friday

MT Newswires Live11-29

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

The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.

Mitsubishi UFJ Financial Group (MUFG) shares were up over 2% after the company said it will launch a tender offer of 99.67 billion Japanese yen ($664.3 million) to turn WealthNavi into a wholly owned subsidiary.

TPG (TPG) is in late stage talks to buy a controlling stake in Hasfarm Holdings from existing holders, including Lombard Investments, Bloomberg News reported, citing people familiar with the matter. TPG shares were up over 4% premarket.

SEI Investments (SEIC) shares were up over 1% after the company said it was selected by Arrow Global Group to support its fund administration, loan operations, and investor services for its private credit fund in Luxembourg.

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