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Sector Update: Financial Stocks Lean Lower Pre-Bell Tuesday

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Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.

The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.

Lloyds Banking Group (LYG) is planning to increase its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported, citing internal company documents and a source familiar with the matter. Shares of Lloyds Banking Group were up more than 1% premarket.

BMO Financial (BMO) has agreed to acquire the Australia-based capital markets business of Euroz Hartleys, the company said. Shares of BMO were 0.9% higher pre-bell.

HSBC Holdings (HSBC) is in discussions to sell its Turkish unit to Emirates NBD, Bloomberg News reported, citing people familiar with the matter. HSBC Holdings stock was up 0.3% premarket.

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