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Many publicly traded broker-dealer shares posted wholesome positive aspects general in 2023 because the broader market rallied after a shortly subdued world banking disaster in March.
Two companies benefited from their buy of troubled monetary establishments: JPMorgan Chase, which acquired troubled First Republic Financial institution, and UBS Group, which purchased Credit score Suisse.
The S&P 500 index ended the yr up about 24%, pushed by the “Magnificent 7” know-how megastocks.
The energy of economic trade shares could also be partly mirrored within the Vanguard Financials ETF (VFH), which gained 11.59% in 2023. However the SPDR S&P Financial institution ETF (KBE) moved up simply 2.33% final yr, based mostly on Yahoo Finance information.
The most important broker-dealers begin reporting their fourth-quarter 2023 earnings subsequent Friday.
Examine the gallery to see how their shares fared in 2023. Information for year-to-date efficiency was compiled at 10.15 a.m. in New York; the price-to-earnings ratios replicate trailing 12-month figures.
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