Last week the Finextra50 Financial Technology Index closed higher at 54.79, led by double digit percentage gains for more than half of index companies, including the three largest constituents Thomson Reuters, Cognizant and Fiserv.
Markets worldwide were generally improved last week, with the banking sector seeing its best week in months. The S&P1200 Global Financial Sector index was up 22.7%, while the FTSE100 and Nasdaq 100 Tech index rose 13.4% and 10.4% respectively.
For the Finextra50 last week, the biggest gainer was Online Resources, which rose 59%, bouncing back from the previous week's 35% fall to close Friday stronger at $3.18
Yucheng Technologies also outperformed the rising Nasdaq market, climbing 39.13% by Friday to finish at $6.72.
Other companies to see significant gains include:
Last week's bouyant markets saw only five index companies fall more than 5%, three of them London listed fintech firms:
- Ffastfill, which reversed its gains of the previous week to fall 15.59% to 6.12p
- GlobeOp, which fell 15.38% to 115.5p despite announcing a contract extension by Lighthouse Partners.
- The Innovation Group, which dropped 11.01% to 4.93p
Other companies to see significant drops were:
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.