The broad indexes saw slight gains, although the Census Bureau reported that sales of new single-family homes fell 1.6% during February to a 313,000 seasonally adjusted annual rate, from a downwardly revised January rate of 318,000, capping a weak of generally negative housing reports.
The KBW Bank Index (I:BKX) rose 1% to close at 49.52, with 20 of the 24 index components ending the week with gains.
Morgan Stanley's shares have now returned 35% year-to-date.The stock trade for nine times the consensus 2013 earnings estimate of $2.36 a share, among analysts polled by Thomson Reuters, and for a heavily discounted 0.7 times the firm's reported Dec. 30 tangible book value of $27.95.
Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.
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