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Nov. 18, 2011, 4:31 p.m. EST

Financial stocks among week’s hardest hit

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By Greg Morcroft, MarketWatch

NEW YORK (MarketWatch) — Financial stocks traded broadly higher Friday but not enough to make up all the ground lost earlier in the week.

The Financial Select Sector SPDR ETF /zigman2/quotes/209660484/composite XLF -0.19% , which tracks the financial stocks in the S&P 500, finished the week down 5.5% at $12.50. The KBW Bank Index /zigman2/quotes/210598427/realtime BKX -0.30% , which tracks the top 24 U.S. banks, lost 5%.

/zigman2/quotes/209660484/composite XLF 36.59, -0.07, -0.19%
/zigman2/quotes/210599714/realtime SPX 4,136.48, -43.28, -1.04%

Overall, the financial sector was the hardest hit among the major industry groups on the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -1.04% , which closed the week down 3.8%. Euro zone issues continued to make investors anxious.

In Friday trading, the NYSE Euronext gained after it and Deutsche Boerse said they sent a proposal to address the antitrust concerns of the European Commission over a pending merger of the two exchange operators.

NYSE Euronext NYX 0.00%  and Deutsche Boerse /zigman2/quotes/203431168/delayed DBOEY -2.55%  proposed to sell the portions of their respective businesses in which they overlap, the market operators said in a joint statement.

“NYSE Euronext would divest its pan-European single equity derivatives business, including Bclear, except the options businesses in its home markets, where Deutsche Boerse would divest its respective business,” the statement said.

NYSE Euronext rose 2% to close at 27.10.

Among the biggest U.S. banks, J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +1.55% , Citigroup Inc /zigman2/quotes/207741460/composite C -1.47% , and Wells Fargo gained.

Bank of America Corp /zigman2/quotes/200894270/composite BAC +0.83% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +0.13%  edged lower.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 36.59
-0.07 -0.19%
Volume: 43.16M
Feb. 3, 2023 4:00p
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/zigman2/quotes/210598427/realtime
US : U.S.: Nasdaq
114.52
-0.35 -0.30%
Volume: 0.00
Feb. 3, 2023 5:16p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,136.48
-43.28 -1.04%
Volume: 0.00
Feb. 3, 2023 4:54p
loading...
US : Pre-Ipo
$ 0.00
0.00 0.00%
Volume:
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/203431168/delayed
US : U.S.: OTC
$ 17.96
-0.47 -2.55%
Volume: 64,478
Feb. 3, 2023 3:57p
P/E Ratio
N/A
Dividend Yield
1.22%
Market Cap
$33.28 billion
Rev. per Employee
$538,050
loading...
/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 141.09
+2.15 +1.55%
Volume: 11.50M
Feb. 3, 2023 4:00p
P/E Ratio
11.67
Dividend Yield
2.84%
Market Cap
$413.85 billion
Rev. per Employee
$571,136
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 50.95
-0.76 -1.47%
Volume: 20.05M
Feb. 3, 2023 4:02p
P/E Ratio
7.29
Dividend Yield
4.00%
Market Cap
$98.68 billion
Rev. per Employee
$454,758
loading...
/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 36.43
+0.30 +0.83%
Volume: 37.41M
Feb. 3, 2023 4:00p
P/E Ratio
11.43
Dividend Yield
2.42%
Market Cap
$292.26 billion
Rev. per Employee
$553,139
loading...
/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 369.95
+0.48 +0.13%
Volume: 2.24M
Feb. 3, 2023 4:00p
P/E Ratio
12.31
Dividend Yield
2.70%
Market Cap
$125.28 billion
Rev. per Employee
$1.57M
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Greg Morcroft is MarketWatch's financial editor in New York.

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