Most major bank stocks advanced on Monday, enjoying their best outing in the market since just before the bulk of third-quarter earnings were announced.
The rally leaders included Keycorp, improving 50 cents to $35 and Society Corp., up 87.5 cents to $29.50. The banks plan to merge next year.
Strong gains were registered by Citicorp. up 75 cents to $37, BankAmerica Corp., ahead 62.5 cents to $42.25, Chase Manhattan Corp., up 75 cents to $33.75, Firstar Corp., up 87.5 cents to $33.375, and Signet Banking, up 87.5 cents to $34.625.
Wells Fargo & Co.'s stock, which has been hard-hit recently, was up $1.375 to $112.25.