Financial shares led the ASX 200 market sectors last week, with a 2.37% gain over the five trading days.
The S&P/ASX 200 Index (ASX: XJO) closed the week up 0.82% to 8,209.5 points. The benchmark index leapt to a new record high of 8,246.2 points during intraday trading on Friday.
The ASX 200 was propelled northward last week by a larger-than-expected cut in United States interest rates, and Australian unemployment remaining steady at 4.2% for the month of August.
Nine of the 11 market sectors finished the week in the green.
Let's recap what happened.
Financial shares led the ASX sectors last week
Four of the five major ASX 200 bank shares hit new price milestones on Friday.
Macquarie Group Ltd (ASX: MQG) shares charged to a new all-time high of $233.91 on Friday. The Macquarie share price lifted 1.11% to finish the week at $231.17.
Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares hit a seven-year high of $31.94 on Friday. ANZ shares closed the week at $31.89, up 2.11%.
Westpac Banking Corp (ASX: WBC) shares rose 3.42% over the five days to finish at $33.57. Westpac shares smashed a six-year high of $33.65 during intraday trading on Friday.
National Australia Bank Ltd (ASX: NAB) shares also screamed up the charts last week, reaching a 17-year high of $39.77 on Friday. NAB shares closed the week at $39.67, up 3.2%.
Commonwealth Bank of Australia (ASX: CBA) shares rose by 1.36% to finish at $144.50 on Friday.
CBA was the only major bank share not to set a new multi-year high last week. That said, CBA shares did strike a new all-time record level on 10 September at $145.24 per share.
Insurance shares put in a mixed performance last week. The Suncorp Group Ltd (ASX: SUN) share price rose by 0.17% to close to $18.21 on Friday. Medibank Private Ltd (ASX: MPL) shares lost 3.18% to $3.65.
Among the investment houses and wealth managers, Washington H. Soul Pattinson and Co Ltd (ASX: SOL) shares rose 0.71% to $33.90 per share on Friday. GQG Partners Inc (ASX: GQG) shares rose 5.26% to $2.60 and the Magellan Financial Group Ltd (ASX: MFG) share price lifted 1.48% to $9.61.
Listed investment company (LIC) Argo Investments Limited (ASX: ARG) shares rose 0.79% to $8.93. Shares in financial services company AMP Ltd (ASX: AMP) fell by 0.76% to close at $1.31 on Friday.
Buy now, pay later stock Zip Co Ltd (ASX: ZIP) put in another strong week, rising 14.35% to close at $2.67 on Friday. The Zip share price hit a two-year high of $2.75 per share on Friday.
In the year to date, Zip shares have skyrocketed by 330.65%.
ASX 200 market sector snapshot
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) | 2.37% |
| Utilities (ASX: XUJ) | 2.31% |
| Information Technology (ASX: XIJ) | 2.2% |
| Consumer Discretionary (ASX: XDJ) | 2.09% |
| A-REIT (ASX: XPJ) | 1.79% |
| Energy (ASX: XEJ) | 1.75% |
| Materials (ASX: XMJ) | 1.67% |
| Communication (ASX: XTJ) | 1.42% |
| Consumer Staples (ASX: XSJ) | 0.11% |
| Industrials (ASX: XNJ) | (0.97%) |
| Healthcare (ASX: XHJ) | (1.91%) |
