09:12 AM EDT, 06/05/2024 (MT Newswires) -- Financial stocks were advancing premarket Wednesday with the Financial Select Sector SPDR Fund ( XLF ) 0.2% higher recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was up 0.6% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 0.5% lower.

Ambac Financial Group ( AMBC ) was down more than 1% after announcing definitive deals to acquire a 60% controlling stake in Beat Capital Partners for about $282 million and sell its legacy financial guarantee businesses to funds managed by Oaktree Capital Management for $420 million in cash.

Apollo Global Management ( APO ) is likely to participate in more ventures similar to the $11 billion deal it made with Intel earlier this week, Apollo Co-President Scott Kleinman told Bloomberg Television in an interview. Apollo Global Management ( APO ) was up 0.9% pre-bell.

KKR (KKR) unit Optics Bidco has agreed to acquire Swisscom's Italian unit Fastweb's 4.5% stake in FiberCorp for 438.7 million euros ($475.8 million) in cash, Swisscom said. KKR was 0.1% higher premarket.