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This week’s top five biggest winners among financial stocks included three bitcoin (BTC-USD) miners, one cryptocurrency exchange and one asset manager. On the negative side, two U.S. regional banks, two Latin American banks and one German lender fell the most.
Overall, financial stocks (with market cap over $2B) eked out relatively small gains for the week ended Feb. 9, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF) gaining 0.3%, compared with the S&P 500’s 1.4% ascent.
With bitcoin (BTC-USD) locking in double-digit gains this past week, bitcoin miners CleanSpark (NASDAQ:CLSK), Marathon Digital (NASDAQ:MARA) led the gainers, jumping 68.5%, 31.3% and 29.8%, respectively. CLSK also got a boost after turning in fiscal Q1 earnings and revenue that blew past Wall Street estimates, thanks to a surge in its bitcoin mining revenue.
Crypto exchange Coinbase Global (NASDAQ:COIN), which is also seen as a high-beta version of bitcoin (BTC-USD), advanced 9.9%; and
Blue Owl Capital (NYSE:OWL), which during the week posted better-than-expected Q4 earnings, also climbed 9.9%.
For the losers, New York Community Bancorp (NYSE:NYCB) took the lead, dropping 18.9%, amid the fallout from its surprise Q4 loss last week. A number of developments transpired this week, from a slew of analyst downgrades to shedding its residential mortgage-related risk.
Taking the second slot, argentine lender Grupo Financiero Galicia (NASDAQ:GGAL) retreated 13.2%;
Brazil-based Banco Bradesco S.A. (NYSE:BBD), which during the week delivered Q4 results, slid 12.2%;
Germany’s Deutsche Bank (NYSE:DB) fell 9.3%; and
Valley National Bancorp (NASDAQ:VLY) rounded out the five biggest decliners with an 8.5% loss.