B of A, CoreStates, Mellon, First of America Overcome A Down Day in the

BankAmerica Corp. rose $1.4375, to $75.9375, bucking a downward slide that most bank stocks experienced in Thursday's off market.

Executives at the San Francisco banking company said retail operations are on the upswing, benefiting from a recognizable brand name, regional scope, and the leadership of H. Eugene Lockhart, former head of MasterCard International.

The company plans to boost revenue growth by stepping up customer service and cultivating cross-selling initiatives, executives told market analysts.

On the heels of the upbeat prognosis, Goldman, Sachs & Co. analyst Robert B. Albertson reiterated his "recommended list" ranking for BankAmerica. And Gerard Klauer Mattison and UBS Securities repeated "buy" recommendations.

The activity occurred against a backdrop of modest selling by many investors. The Standard & Poor's bank index fell 0.08%, and the Dow Jones industrial average dropped 0.41%. The Nasdaq bank index dipped 0.23%, and the S&P 500 fell 0.50%.

Some bank shares managed gains. CoreStates Financial Corp. rose 75 cents, to $72.625. First of America Bank Corp. increased 18.75 cents, to $57.0625. And Mellon Bank Corp. rose $1.4375, to $52.1875.

Other shares gave back some recent gains. Citicorp was off $1.25, to $131.875. First Chicago NBD Corp. fell $1, to $73.50. And Regions Financial Corp. dropped 81.25 cents, to $38.125.

The markets were not swayed by data showing that job growth may be slowing, a development good for low inflation. The number of workers applying for state unemployment benefits jumped last week to the highest level in two months, the Labor Department said. First-time jobless claims rose by 16,000, to a seasonally adjusted 315,000 in the week ended Nov. 1. It was the highest level since the week ended Aug. 30, when there were 325,000 claims.

U.S. retailers also reported that they met sales expectations in October. Discounters supplied much of the strength, benefiting from the Halloween season.

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