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Sector Update: Financial Stocks Edge Higher Premarket Tuesday

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Financial stocks were edging higher premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.2%.

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

Swiss lawmakers are considering proposals that would reduce the capital burden facing UBS Group (UBS) under planned banking reforms introduced after the collapse of Credit Suisse, Reuters reported, citing sources. Shares of UBS Group were up more than 2% pre-bell.

Interactive Brokers (IBKR) stock was up 0.8% after the company launched commission-free ETFs within its recurring investment feature for eligible investors in the European Economic Area.

Lloyds Banking (LYG) has launched Lloyds Accept, a new payments platform for UK small businesses, using Stripe infrastructure, Stripe said. Lloyds Banking shares were up more than 1% premarket.

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Sector Update: Financial Stocks Softer Late Afternoon

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