MetLife Inc.’s stock shot up 5.1% in active morning trade, after a federal judge granted the insurer’s wish by rescinding the government’s determination that the company was a systemically important financial institution (SIFI), according to a report in The Wall Street Journal. Volume topped seven million shares about 90 minutes after the open, compared with the full-day average of 6.2 million shares, according to FactSet. Details of the judge’s decision, which could be appealed by the Financial Stability Oversight Council, were not immediately available, the WSJ report said. MetLife has been pushing to overturn the SIFI designation, because that comes with increased regulatory oversight and higher capital requirements.
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