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This week’s top five biggest gainers in the financials sector consisted of one crypto exchange, two bitcoin (BTC-USD) miners, and two asset management firms. On the flip side, two regional banks, two asset managers and one financial services company led the decliners.
With bitcoin (BTC-USD) posting a ~5% rally for the holiday-shortened week ended Nov. 24, Coinbase Global (NASDAQ:COIN), the largest crypto exchange in the U.S., notched the biggest gains of any financial stock (with market cap over $2B), jumping 18.6%;
Bitcoin (BTC-USD) miners Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) surged 17.6% and 15.8%, respectively;
Burford Capital Group (NYSE:BUR), a provider of legal finance products and services, climbed 8.9%; and
Alternative asset manager Ares Management Corp. (NYSE:ARES) rounded out the biggest winners with a 7.1% ascent.
For the losers, Peru-based lender Credicorp (NYSE:BAP) took the lead by a wide margin, dropping 26%;
Zions Bancorporation (NASDAQ:ZION) slipped 3.4% after Citi Research downgraded the regional banking stock to Neutral on the basis of a more balance risk-reward profile;
Cohen & Steers (NYSE:CNS) took the third slot, edging down 3.4%;
Asset manager Franklin Resources (NYSE:BEN) declined 3.3%; and
Lufax Holdings (NYSE:LU), a Chinese personal financial services platform, also dipped 3.3%.
More on Ares Management Corporation, Credicorp, etc.
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