Financial shares led the ASX 200 market sectors last week with a 1.82% gain over the five trading days.
Another record for CBA shares and the Iran-Israel ceasefire pushed the financials sector to a new peak.
The S&P/ASX 200 Financials Index (ASX: XFJ) hit a new all-time high of 9,676.6 points on Friday before closing at 9,484.
The benchmark S&P/ASX 200 Index (ASX: XJO) closed the week 0.1% higher at 8,514.2 points.
Only three of the 11 market sectors finished the week in the green.
Let's review.
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CBA share price record boosts ASX 200 financials
CBA shares were the star of the show, but the five major ASX 200 bank shares all had a strong week.
The Commonwealth Bank of Australia (ASX: CBA) share price reset its historical high again on Wednesday at $192.
Overall, CBA shares increased by 1.55% over the week to close at $185.36 apiece on Friday.
Plenty of analysts say investors should 'lock in profits at these levels', but a unique tailwind continues to propel CBA shares.
Other analysts are more excited about small-cap financial shares, while others say it's time to go elsewhere for dividends now.
Macquarie Group Ltd (ASX: MQG) shares rose by 5.42% to $220.20 apiece.
The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price moved 2.85% higher to $29.20.
Westpac Banking Corp (ASX: WBC) shares ascended 2.08% to $33.90.
The National Australia Bank Ltd (ASX: NAB) share price closed the week at $39.26, up 0.9%.
Several of the banks expect the Reserve Bank of Australia to cut interest rates next month following weaker inflation data last week.
What about other financial shares?
The big ASX 200 insurance shares put in a mixed performance last week.
Medibank Private Ltd (ASX: MPL) shares rose 2.05% to $4.98. The Medibank share price hit a record of $5.05 on Friday.
The Insurance Australia Group Ltd (ASX: IAG) share price fell 1.66% to $8.88.
The Suncorp Group Ltd (ASX: SUN) share price dipped 0.65% to $21.33.
QBE Insurance Group Ltd (ASX: QBE) shares fell 0.81% to $23.22.
The share price of buy now, pay later stock Zip Co Ltd (ASX: ZIP) finished the week at a six-month high.
The Zip share price lifted 5.57% to close at $3.03 on Friday.
Block CDI (ASX: XYZ) shares lifted 1.93% to $98.68.
The share price of ASX 200 diversified investment house, Washington H. Soul Pattinson and Co Ltd (ASX: SOL) lifted 1.96% to $41.69.
Shares in fund manager GQG Partners Inc (ASX: GQG) soared 16.4% to $2.27 despite no news last week.
Asset manager HMC Capital Ltd (ASX: HMC) rose 5.64% to $5.06 per share.
AMP Ltd (ASX: AMP) shares rose 4.1% to $1.27.
Wealth management and investment platform providers Netwealth Group Ltd (ASX: NWL) and Hub24 Ltd (ASX: HUB) had a great week.
The Netwealth share price rose 5.06% to $32.81 while Hub24 shares went up 6.13% to finish at $87.08.
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) | 1.82% |
| Materials (ASX: XMJ) | 1.78% |
| Consumer Discretionary (ASX: XDJ) | 0.02% |
| Communications (ASX: XTJ) | (0.09%) |
| Information Technology (ASX: XIJ) | (1.45%) |
| Healthcare (ASX: XHJ) | (1.53%) |
| A-REIT (ASX: XPJ) | (2.05%) |
| Consumer Staples (ASX: XSJ) | (2.27%) |
| Industrials (ASX: XNJ) | (2.63%) |
| Utilities (ASX: XUJ) | (2.84%) |
| Energy (ASX: XEJ) | (4.46%) |
