ITUB - XP paring gains after Itau denies that its in talks with Schwab on XP stake (update)

Update 3pm: Adds Itau denial of report. XP Inc. (NASDAQ:XP) is paring gains after soaring more than 25% after Brazilian lender Itau (ITUB) denied a report that's in talks with Charles Schwab (NYSE:SCHW) about selling its stake in XP, according to Reuters, which cited a statement. It was earlier reported that Schwab (SCHW) was said to be in talks to buy Itau's (ITUB) stake in the company, according to Bloomberg, which cited a Valor report. The report comes after Brazil's central bank approved Itaú Unibanco's spinoff of XP holdings last July. The Central Bank of Brazil approved Itaú Unibanco Holding's (ITUB) spinoff of its interest in XP from the company to be transferred to XPart SA. Recall November 2020, XP commented on it Itaú Unibanco investment. Earlier Thursday, XP announces new cryptocurrency trading platform XTAGE.

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XP paring gains after Itau denies that its in talks with Schwab on XP stake (update)