2023-10-14 10:24:00 ET
This past week's winners among financial stocks were mostly led by insurance companies, while the five biggest losers ranged from regional banks to a cryptocurrency exchange.
Overall, financial stocks closed out the week ended October 13 in the green, with the Financial Select Sector SPDR Fund ETF ( NYSEARCA: XLF ) rising 0.9% , slightly outpacing the S&P 500's 0.8% ascent.
Notching the biggest gains in the sector, Futu Holdings ( NASDAQ: FUTU ), a Hong Kong-based fintech company, jumped 8.7% ;
Progressive Corp ( NYSE: PGR ) took the second slot, climbing 8.5% to a new record high, after the insurer posted a strong improvement in underlying results for Q3 and September; and
Fellow insurers Allstate ( NYSE: ALL ), Primerica ( NYSE: PRI ) and Jackson Financial ( NYSE: JXN ) rounded out the winners, advancing 6.3% , 5.5% and 5.5% , respectively.
For the losers, First Interstate BancSystem ( NASDAQ: FIBK ) took the lead, retreating 6.8% ;
Crypto exchange Coinbase Global ( NASDAQ: COIN ) gapped down 6.4% in the same week that saw downward pressure on bitcoin ( BTC-USD );
Jefferies Financial Group ( NYSE: JEF ), an investment banking and brokerage firm, fell 6.3% ;
Cohen & Steers ( NYSE: CNS ) dipped 6.1% after turning in disappointing AUM results for September; and
Axos Financial ( NYSE: AX ), another regional lender, drifted down 6% .
More on Financial Stocks
- Associated Bac-Corp: A Great Price For A Stellar Bank
- Barclays: Macro Risks Weigh, Buybacks Help, Shares Are A Value
- Citigroup Q3 earnings, revenue top consensus, with growth in five core units
- Wells Fargo Q3 earnings beat helped by net interest income, lower PCL
- PNC Financial sees NII slide persisting as Q3 revenue falls short
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Insurers post biggest gains among financial winners: Weekly roundup