J.P. Morgan & Co. was the top gainer among bank stocks, rising $1.25 to $76.125 in late trading. Other banks posted more modest gains as stocks in general were little changed.
Chase Manhattan Corp. was up 62.5 cents to $34.625, Core-States Financial Corp. was ahead 62.5 cents to $34.625, and Mellon Bank Corp., strong in recent days, improved 62.5 cents to $58.625.
The top loser was Shawmut National Corp., off $1 to $23 after announcing it will acquire Peoples Bancorp of Worcester. Marshall & Ilsley Corp. fell 50 cents to $23.25 and Fifth Third Bancorp 50 cents to $52.50.