Updated from 3:29 p.m. EDTBank stocks, with the exception of Citigroup ( C) and a few others, rallied Friday. The KBW Bank index rose 3.4%. Citi reported a narrower-than-expected loss of 18 cents a share. The loss came after the bank converted preferred stock issued last year into common shares. After a higher start to the day, shares lost 9% to $3.65. Bank of America ( BAC), which on Monday will be the next of the banks to unveil its results, added 2.5% to $10.60.
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