Bank shares turned sharply upward Thursday, helped by gains in the broad stock market and bond market.

NationsBank's shares led the way, rising $1.375 to $50.625, after the bank announced it was buying $2.3 billion in receivables from a subsidiary of U.S. West.

J.P Morgan & Co.'s shares jumped $1.25 to $73. And Banc One Corp.'s shares gained $1.125, to $54.875. First Union Corp.'s shares rose $1.25 to $47.375.

MBNA Corp.'s shares continued their tear, jumping $1.375 to $32.375. In the past three days, the stock has gained 17.7%.

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