Sector Update: Financial Stocks Fall Pre-Bell Thursday

MT Newswires Live04-02

Financial stocks were falling pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 1.4%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 4.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 4.1%.

BlackRock (BLK) is increasing bearish bets on German government bonds, citing expectations of a renewed inflation surge across Europe and rising fiscal spending pressures, Bloomberg reported. Shares of BlackRock were down more than 2% premarket.

Lloyds Banking Group (LYG) said it does not plan to change provisions for motor finance mis-selling compensation after assessing the final rules issued by the Financial Conduct Authority. Lloyds Banking Group stock was down more than 2% pre-bell.

Ares Management (ARES) said it raised about $5.40 billion in capital to invest in value-add real estate opportunities across high-conviction markets in the US and Europe. Ares Management shares were down more than 3% premarket.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment