Financial shares led the ASX 200 market sectors last week, with a 4.07% gain over the five trading days.
The S&P/ASX 200 Index (ASX: XJO) closed the week down 0.87% to 8,283.2 points.
The benchmark index continues to reset its record high. The ASX 200 stretched to 8,384.5 points during intraday trading on Thursday.
Only four of the 11 market sectors finished the week in the green. Let's recap what happened.
The five major ASX 200 bank shares had a great week.
Westpac Banking Corp (ASX: WBC) outshone its peers with the share price rising 4.85% over the five days to finish at $32.41. The Commonwealth Bank of Australia (ASX: CBA) share price rose by 4.8% to finish the week at $142.85. National Australia Bank Ltd (ASX: NAB) shares lifted 4.79% to $39.18. Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares closed the week at $31.59, up 3.54%.
The Macquarie Group Ltd (ASX: MQG) share price did not rise as much as the other bank majors, but it did hit a new all-time high of $236.62 on Friday. The stock lifted 0.95% to finish the week at $236.03.
There was a mixed performance among the investment companies and wealth managers.
The Magellan Financial Group Ltd (ASX: MFG) share price gained 7.14% despite no price sensitive news from the company last week. The stock closed at $11.26 on Friday. Washington H. Soul Pattinson and Co Ltd (ASX: SOL) shares fell 2.05% to $34.36 per share on Friday. GQG Partners Inc (ASX: GQG) shares dipped 1.47% to close at $2.69.
There were mixed results among financial services companies as well.
AMP Ltd (ASX: AMP) streaked 12.83% higher to close at $1.50 on Friday. This leap was due to a positive third quarter update on Thursday. Hub24 Ltd (ASX: HUB) shares also rose strongly, by 4.9%, to $67.03. The stock hit a new record high of $67.25 on Friday. Buy now, pay later share Zip Co Ltd (ASX: ZIP) fell 2.9% last week to close at $2.85 on Friday.
Several insurance shares weakened last week.
The Suncorp Group Ltd (ASX: SUN) share price lost 0.33% to close at $18.16. Medibank Private Ltd (ASX: MPL) shares fell 1.48% to $3.66. The Insurance Australia Group Ltd (ASX: IAG) share price declined by 0.27% to $7.52.
Here's how the 11 market sectors stacked up last week, according to CommSec data.
Over the five trading days:
| S&P/ASX 200 market sector | Change last week |
| Financials (ASX: XFJ) | 4.07% |
| Communication (ASX: XTJ) | 0.54% |
| Industrials (ASX: XNJ) | 0.45% |
| A-REIT (ASX: XPJ) | 0.25% |
| Materials (ASX: XMJ) | (0.61%) |
| Healthcare (ASX: XHJ) | (1.01%) |
| Consumer Discretionary (ASX: XDJ) | (1.36%) |
| Consumer Staples (ASX: XSJ) | (1.72%) |
| Information Technology (ASX: XIJ) | (3.54%) |
| Energy (ASX: XEJ) | (3.92%) |
| Utilities (ASX: XUJ) | (4.42%) |
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