Sector Update: Financial

MT Newswires Live08-05

Financial stocks were advancing pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) was 0.8% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.6%.

Banco Santander (SAN) and Webster Financial (WBS) have received US Federal Reserve approval for their proposed deal under which Banco Santander will acquire Webster, the companies said. Shares of Banco Santander and Webster Financial were up more than 1% premarket.

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