Banking stocks rose with the broader markets Thursday on positive economic and employment data.

The KBW Bank Index rose 0.85%, to 52.44.

Other sectors posted gains after the Institute for Supply Management said that manufacturing activity rose in March, while the Department of Labor said initial jobless claims fell more than some economists had expected.

The Dow Jones industrial average rose 0.65%, while the Standard & Poor's 500 index rose 0.74%.

Citigroup Inc. was among the best performing financial companies after reaping about $320 million in an initial public offering of its Primerica Inc. unit. Citi rose 13 cents, or 3.21%, to $4.18.

JPMorgan Chase & Co. rose 1.07%; Bank of America Corp., 1.06%; and Wells Fargo & Co., 0.8%.

SunTrust Banks Inc. rose 1.38%; U.S. Bancorp, 1.39%; State Street Corp., 1.84%; and Northern Trust Corp., 2.5%.

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