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FINWIRES

Sector Update: Financial Stocks Higher Pre-Bell Friday

-- Financial stocks were higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.3%.

The Direxion Daily Financial Bull 3X Shares (FAS) gained by 1%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.

Ally Financial (ALLY) shares rose 3.1% premarket after the company reported higher Q1 adjusted earnings and revenue.

Scotiabank (BNS) said it expects its stake in KeyCorp to contribute 77 million Canadian dollars ($56.4 million) in net income in Q2. Shares of Scotiabank were up 0.7% higher pre-bell.

Fifth Third Bancorp (FITB) shares rose more than 1% before the opening bell after the company posted a surprise Q1 profit on Friday.

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