GGAL - Financial stocks roundup: Disappointing earnings fueled the week's biggest declines

Four of the five biggest decliners in financial stocks reported a miss in their latest quarterly results this week, while most of the top five climbers were non-U.S.-based firms.

Cincinnati Financial ( NASDAQ: CINF ), down 12% , fell the most of any financial stock with market cap over $2B the week ended July 29, after the insurer's Q2 earnings and revenue trailed Wall Street expectations as loss ratios were elevated from recent periods;

Bread Financial Holdings ( NYSE: BFH ), formerly Alliance Data Systems, slid 10% , as the credit card issuer also posted a double miss on Q2 EPS and revenue;

OneMain Holdings ( NYSE: OMF ), which lends to non-prime customers, fell 9.9% for the week after Q2 earnings and revenue fell short of expectations and market sentiment soured on the stock with fears of a recession;

Columbia Financial ( NASDAQ: CLBK ), down 8.1% , posted Q2 EPS of $0.22, less than the $0.26 it earned in the year-ago quarter, as it increased its provision for credit losses and noninterest income fell; and

Reinsurer RenaissanceRe ( NYSE: RNR ) Q2 revenue missed consensus; total fee income for the quarter fell to $34.3M from $46.2M a year earlier.

As for the top five gainers, many are non-U.S. based banks that may have benefited when the U.S. dollar's strength eased this week. Buenos Aires-based Grupo Financiero Galicia's ( GGAL ) stock surged 27% ;

Another Argentinean bank, Banco Macro ( BMA ) shares climbed 26% ;

Scotland-based bank NatWest Group ( NWG ) stock posted a 13% gain for the week;

WSFS Financial ( WSFS ), based in Wilmington, Delaware, rose 13% in the same week it turned in better-than-expected results ; and

Brazil fintech XP Inc. ( XP ) increased 13% after a report that its introducing bitcoin ( BTC-USD ) and ether ( ETH-USD ) trading for clients.

In the past five days, the U.S. Dollar Index fell 0.9% in the same week that the Federal Reserve boosted its key rate by 75 bps to tame inflation .

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