BofA (BAC) and Metlife (MET) Lead Financials (XLF) Higher
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Financial Select Sector SPDR ETF (NYSE: XLF) is heading higher in early trading on Tuesday. Shares of Bank of America (NYSE: BAC) are leading the group higher after the bank Julius Baer Group Ltd., the leading Swiss private banking group is in discussions to acquire Merrill Lynch's international wealth management business outside the United States. BofA declined to comment on the potential transaction but a person familiar with the matter said the wealth unit may fetch the bank $2 billion.
Shares of MetLife Inc (NYSE: MET) were also higher after it received a three-month extension from the U.S. Federal Reserve on its plans to return capital to shareholders.
Shares of MetLife Inc (NYSE: MET) were also higher after it received a three-month extension from the U.S. Federal Reserve on its plans to return capital to shareholders.
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