Sector Update: Financial

MT Newswires Live
07/08

Financial stocks were falling premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.4%.

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

Banco Santander (SAN) overhauled its Asia-Pacific corporate and investment banking business, removing its top banker in Beijing, tightening employee oversight and cutting staff perks as part of a cost-cutting drive, the Financial Times reported. Banco Santander stock was down more than 3% pre-bell.

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