Bank stocks rallied along with the overall stock market on Monday in advance of Tuesday's presidential election.
The top gainer of the day among major banks was Wachovia Corp., Winston-Salem, N.C., up $1.375, to $67, in late trading.
Strong price moves were also registered by Bankers Trust New York Corp., up $1.125, to $65.125, and NationsBank Corp., Charlotte, N.C., up $1, to $47.25.
Big gains were tallied by the government-sponsored enterprises. Student Loan Marketing Association shares soared $2.50, to $68.625, while Federal Home Loan Mortgage Corp. stock gained $1, to $42.875, and Federal National Mortgage Association was up 62.5 cents, to $68.25.
Mortgage companies also gained. Countrywide Credit Industries, Pasadena, Calif., the largest publicly traded mortgage banker, rose 25 cents, to $26.25.