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Sector Update: Financial Stocks Advance Pre-Bell Monday

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Financial stocks were advancing pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.7% higher.

The Direxion Daily Financial Bull 3X Shares (FAS) was up 2.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.

Payoneer Global (PAYO) and Nuvei said they have entered into a definitive agreement under which Nuvei will acquire Payoneer for $7.40 per share in cash, representing a total deal equity value of about $2.75 billion. Shares of Payoneer Global were up more than 4% premarket.

Northern Trust (NTRS) stock was up more than 1% after the company said it obtained a license from the Central Bank of Ireland to launch a new domestic banking branch.

eToro (ETOR) is pursuing acquisitions and considering an expansion into payments and banking services as the online trading platform looks to diversify its business, the Financial Times reported, citing CEO Yoni Assia. Shares of eToro were 2% higher pre-bell.

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