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In the four-day trading week, the financial stock that gained most recently saw progress in collecting a legal case, and the one that fell the most is caught up in banking tensions that erupted last month.
For In the trading week ending April 6, financial stocks broadly fell slightly with the Financial Select Sector SPDR Fund ETF (XLF) edging down 0.5%while the broader S&P 500 index (SPX) fell 0.1%.
Burford Capital (New York Stock Exchange: BUR) led the financial stocks (with a market capitalization of more than $2 billion) that rose the most during the week, with a 11% profit. The week before, one of his clients won a liability judgment against the Argentine government in its lawsuit over the expropriation of YPF, a state-controlled energy company.
It is followed by the insurer Genworth Financial (New York Stock Exchange: GNW), +7.4%;
Spanish bank Banco Bilbao Vizcaya Argentaria (NYSE:BBVA), +6.0%;
Italian Bank UniCredit (OTCPK:UNCRY) gained 5.8% in the week it began the first tranche of its share repurchase program for up to EUR 2.34B (US$2.53B); and
British bank Barclays (NYSE:BCS) advanced 5.0%outperforming the top five financial climbers.
Of the five that declined the most, Western Alliance Bancorporation (New York Stock Exchange:WAL) Share fell 13% in the week he provided when the bank’s quarter-end financial update gave mixed signals to Wall Street;
MarketAxess shares (NASDAQ:MKTX), the electronic trading platform, slipped 12% after posting its volume figures for March. “Market volumes were clouded by challenges in the banking sector, with US corporate credit ADV falling 10% MoM during the crisis period,” CEO Chris Concannon said.
base of coins (NASDAQ: CURRENCY), the cryptocurrency exchange platform, sank 9.1%after its first-quarter transactions stalled at roughly fourth-quarter levels.
Brazil-based financial services company XP Inc. (NASDAQ:XP) fell 8.8%; and
National Bank of the Valley (NASDAQ: VLY), a regional bank based in New York, fell 8.6% during the week.
On Thursday, bank borrowing from the Federal Reserve eased slightly over the week.