09:17 AM EST, 11/21/2024 (MT Newswires) -- Financial stocks were higher premarket Thursday as the Financial Select Sector SPDR Fund (XLF) was 0.4% up recently.

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.

Manulife Financial ( MFC ) shares were almost 1% higher after the company said it signed a 5.4 billion Canadian dollars ($3.87 billion) reinsurance agreement with Reinsurance Group of America ( RGA ) .

Arthur J. Gallagher ( AJG ) said it has bought retail insurance broker THB Chile. Arthur J. Gallagher ( AJG ) shares were up 0.5% premarket.

HSBC Holdings ( HSBC ) abandoned its plans to build a carbon credits desk after the voluntary carbon market shrank to roughly $1 billion last year, Bloomberg reported, citing people familiar with the matter. HSBC Holdings ( HSBC ) shares were 0.1% higher pre-bell.