Banks Add $40 Billion in Value After Fed Stress Tests
- Citigroup advances 2.8% in wake of stress-test result
- Capital One slips after stumbling through annual exam
33 U.S. Banks Aced the Fed's Stress Test
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The biggest U.S. banks added more than $25 billion in market value after the Federal Reserve’s annual stress tests opened the way to surprisingly big increases in dividends and share buybacks.
Wells Fargo & Co. jumped 2.7 percent while Citigroup Inc. advanced 2.8 percent in New York trading Thursday. Regions Financial Corp. and KeyCorp also climbed as the KBW Bank Index rose to a three-month high. Financials posted the biggest gain among sectors in the S&P 500 Index, which fell 0.9 percent.