The S&P 500 Financials index gained 2.4% in July, outpacing the 1.4% return for the S&P 500. Fifty of the 67 financial companies in the index ended the month in positive territory.
Discover Financial Services had the best performance in the index with a total return of 15.7% during the month, followed by Jefferies Financial Group Inc. with a 10.9% return and Moody's Corp. with a 9.7% return.
On the flip side, Affiliated Managers Group Inc. clocked the worst performance for the month with a loss of 6.9%. Franklin Resources Inc. and Invesco Ltd. followed with losses of 6.2% each.