NEW YORK (
was the winner among large banks Thursday, with shares rising 1.5% to close at $56.21.
The broad indexes were up amid an irrationally exuberant market reaction over the
KBW Bank Index
( BKX) was up slightly to 50.59.
Large bank stocks rising 1% Thursday included
, which closed at $27.30;
, closing at $13.00;
People's United Financial
, at $13.50;
, at $28.77; and
, which closed at $47.86.
was Thursday's sector loser, with shares sliding over 1% to close at $28.61
Bloomberg reported that Robert McCann, the head of
U.S. wealth management business, said that UBS was not considering a sale of the unit, after Fred Cannon of KBW had previously suggested that the unit might be a good fit for Wells Fargo.
Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.