Home Business NewsBusinessBusiness Growth Financial services firms flourish, but manufacturing takes the top spot

Financial services firms flourish, but manufacturing takes the top spot

by LLB Finance Reporter
17th Nov 20 11:40 am

As the financial markets continue to experience volatility amidst the reaction to the US election result and the ongoing COVID-19 pandemic, here are the most rising and most falling instruments on AvaTrade’s retail trading platform over the past week.

Most Rising

Instrument Previous Week Change (%)

Vallourec 34.63%

Barclays 20.77%

UniCredit 19.73%

American Express 19.05%

Total 18.18%

Most Falling

Instrument Previous Week Change (%)

Alibaba -14.10%

Snapchat -12.15%

EURTRY -10.78%

USDTRY -10.28%

GDX -7.88%

Naeem Aslam, Chief Market Analyst, AvaTrade said, “It was a good week for financial service firms with Barclays, Unicredit and American Express all in the most rising table.

“It is French manufacturing firm Vallourec that takes this week’s top spot though with a significant 34.63% increase. Its tubular solutions may have benefitted from the rise in crude prices with optimism around global recovery in the wake of COVID-19 vaccine news. Another French firm, oil and gas company Total, also makes it into this week’s top five most rising instruments.

“Ecommerce group Alibaba, meanwhile, tops this week’s most falling table. This is a bit of a surprise as 11 November was Singles Day in China. Also known as 11.11 or Double 11, the event was originally created by Alibaba and was tipped to be the world’s biggest online sale.

“Snapchat also had a bad week, down 12.15%. The social media company recently warned that ‘the pandemic could seriously harm its business’ amid fears that advertising spend on its app may be cut.”

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