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Three of the five biggest financial gainers this week included non-US banks, as a basket of currencies strengthened against the US dollar, while two of the five biggest losers were bitcoin (btc-USD) miners, as prices of cryptocurrencies lost some purchases. impulse.
Overall, financial stocks (with a market capitalization above $2 billion) ended the holiday-shortened week ending February 23 in the green, with the Financial Select Sector SPDR ETF (NYSERCA:XLF) up to 1.7%matching the S&P 500 1.7% increase. Of the 11 sectors of the S&P 500, financials was the fifth best performer of the week.
Banco Macro SA (New York Stock Exchange:BMA), an Argentina-based lender, rose the most among all financial stocks last week, up 16.3%;
Second, specialty insurance company Kinsale Capital Group (New York Stock Exchange: KNSL) gap up to 16.1%;
Barclays Plc (New York Stock Exchange: BCS), which during the week presented a three-year plan that includes buybacks and cost reduction measures, jumped 15.3%;
Intercorp Financial Services of Peru (New York Stock Exchange:IFS), which SA's Catalyst Watch noted as one of the most overbought stocks based on the 14-day Relative Strength Index, won 10.7%; and
Rounding out the five biggest winners, Discover Financial Services (New York Stock Exchange: DFS) accelerated 9.9% after Capital One (COF) agreed to buy the credit card issuer in an all-stock deal valued at $35.3 billion.
For the losers, bitcoin (btc-USD) miner Marathon Digital Holdings (NASDAQ: MARÁ) topped the list, sliding 11.2%as bitcoin took a break from its bull run;
Upstart holdings (NASDAQ:UPST), which provides an ai-powered lending platform for banks and credit unions, fell 10.6%;
Fellow btc miner Riot Platforms (NASDAQ: UNREST), which during the week published mixed results for the entire year 2023, lose 10.2%;
F&G Annuities and Life (New York Stock Exchange:FG), down 9.5%, fell after its fourth-quarter earnings missed analysts' average estimate; and
Distressed regional lender New York Community Bancorp (New York Stock Exchange: NYCB) fell 8.3%which brings its loss so far this year to 54.9%.
