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)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) was up 12%, while JPMorgan Chase ( JPM) was down 2%. Wells Fargo ( WFC) was tacking on 2%.
This article was written by a staff member of

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