Reports on Citi, Barclays Spark Buying

Banking shares rose on reports that the government was nearing an exit from Citigroup Inc. and that British banking giant Barclays PLC was interested in buying a retail bank in the U.S.

The KBW Bank Index rose 0.64%.

Citi surged 26 cents, or 7.3%, after the Fox Business Network reported the government may sell its stake within three months.

Some regional banks rose on The Wall Street Journal report concerning Barclays' interest in branching into U.S. retail banking.

The Dow Jones industrial average rose 0.12% and the Standard & Poor's 500 index rose 0.17%.

Bank of America Corp. rose 0.36% and Wells Fargo & Co. rose 0.31%. JPMorgan Chase & Co. fell 0.4%.

In regional banking, gainers included Capital One Financial Corp., up 2.14%; PNC Financial Services Group Inc., 1.19%; and BB&T Corp., 0.38%.

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