Nikada
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%.
