Bank stocks were climbing along with the broader market Monday as traders cheered the efforts by central banks and governments around the world to continue seeking a solution to the global

financial crisis

.

The NYSE Financial Sector index was jumping 11.9%, and the Amex Securities Broker/Dealer index was up 11.2%. The KBW Bank index was adding 1.4%.

As for individual stocks,

Morgan Stanley

(MS) - Get Report

was soaring 86% to $18.04 after it closed a deal that gives

Mitsubishi UFJ Financial

(MTU)

a 21% ownership stake in the Wall Street firm.

Sovereign Bancorp

(SOV)

wasn't as fortunate, falling nearly 4% to $3.67 after a report said that Spain's

Banco Santander

(STD)

is considering buying all of the company.

Elsewhere,

Citigroup

(C) - Get Report

was up 12%, while

JPMorgan Chase

(JPM) - Get Report

was down 2%.

Wells Fargo

(WFC) - Get Report

was tacking on 2%.

This article was written by a staff member of TheStreet.com.