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Sector Update: Financial Stocks Gain Premarket Monday

05/10/2021 05:15

09:13 AM EDT, 05/10/2021 (MT Newswires) -- Financial stocks were gaining premarket Monday as the Select Financial Sector SPDR (XLF) was recently advancing by 0.58%. The Direxion Daily Financial Bull 3X shares (FAS) were over 1% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down more than 1%.

Lloyds Banking Group (LYG) is nearing a deal to take over Embark Group, a privately-owned provider of savings and retirement solutions, for 400 million pounds ($563.1 million), Sky News reported, citing unnamed sources. Lloyds Banking Group was climbing past 3% in recent trading.

Nomura Holdings (NMR) was marginally advancing after saying it formed a strategic partnership with investment and advisory firm Jarden to provide a full suite of services to clients in Australia and New Zealand.

Arthur J. Gallagher (AJG) is engaged in discussions to purchase a portfolio of assets from Aon (AON) and Willis Towers Watson (WLTW) for about $3 billion, Bloomberg News reported, citing unidentified sources. Arthur J. Gallagher was slightly higher in recent trading.