Sector Update: Financial Stocks Decline Pre-Bell Monday

MT Newswires Live02-03 22:04

Financial stocks declined pre-bell Monday as the Financial Select Sector SPDR Fund (XLF) recently fell by 1.6%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 4.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 4.5% higher.

Brookfield Asset Management (BAM) and its listed affiliate Brookfield Business Partners (BBU) said they completed the acquisition of Chemelex from nVent Electric for $1.7 billion. Brookfield Asset Management shares were down more than 0.5% premarket.

Arthur J. Gallagher (AJG) said its Gallagher Bassett subsidiary has acquired W K Webster & Co. Arthur J. Gallagher shares declined by nearly 2% pre-bell.

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