09:20 AM EDT, 04/03/2025 (MT Newswires) -- Financial stocks declined pre-bell Thursday with the Financial Select Sector SPDR Fund (XLF) 3.8% lower recently.

The Direxion Daily Financial Bull 3X Shares ( FAS ) was down 11% and its bearish counterpart Direxion Daily Financial Bear 3X Shares ( FAZ ) was 11.8% higher.

BlackRock ( BLK ) has received approval from the European Commission for its proposed acquisition of HPS, the regulator said. Shares of BlackRock ( BLK ) were down over 4% premarket.

State Street Global Advisors, the asset management unit of State Street (STT), said it has acquired a stake in investment platform Ethic and launched a partnership to expand customized investment offerings. Shares of State Street fell past 4% pre-bell.

TowneBank ( TOWN ) has agreed to buy Old Point Financial ( OPOF ) for about $203 million, the companies said. Shares of Old Point Financial ( OPOF ) surged by over 25% premarket, while TowneBank ( TOWN ) fell by more than 10%.