09:19 AM EDT, 05/10/2024 (MT Newswires) -- Financial stocks were advancing premarket Friday, with the Financial Select Sector SPDR Fund ( XLF ) was up 0.3% recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was 0.9% higher, and bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was up 0.4%.

UBS (UBS) is considering a plan to reward bankers who land rich clients for the investment bank's wealth management business, Bloomberg reported, citing people with knowledge of the matter. UBS was up more than 2% pre-bell.

AllianceBernstein ( AB ) said preliminary assets under management fell to $737 billion in April from $759 billion in March. AllianceBernstein ( AB ) was 0.7% higher pre-bell.

Banco Bilbao Vizcaya Argentaria's ( BBVA ) hostile takeover bid for Banco de Sabadell SA "violates a rule governing how companies must make such approaches," Sabadell said in a filing with Spain's securities regulator. BBVA was over 2% higher in recent pre-bell activity.