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LONDON, March 15, 2013 /PRNewswire/ --
Despite a challenging macro environment, banks performed well in 2012 as they benefited from a rise in lending activity which is expected to continue to surge as the Federal Reserve has pledged to keep interest rates at record low levels for a while. Although record low interest rates have boosted lending activity, they have put pressure on banks' net interest margins. Meanwhile, banks such as JP Morgan Chase & Co. (NYSE: JPM), KeyCorp (NYSE: KEY), SunTrust Banks Inc. (NYSE: STI), and The Bank of Nova Scotia (NYSE: BNS) are also adapting to the changing regulatory environment. Bank stocks ended on a mixed note on Thursday even as the broad market edged higher. StockCall free coverage on JPM, KEY, STI, and BNS is available upon registration at
JP Morgan Chase & Co. was among the major gainers in the financial sector yesterday. The stock closed 1.67% higher at $51, which is also its 52-week high. The bank's shares had an excellent run in 2012 and the trend has continued this year as well. Year-to-date, shares of the New York City-based banking giant have gained nearly 16%, outperforming the broad market. The stock has seen a series of highs since the start of this year. It faced resistance at around $49 for a while, however, has broken through this level earlier this month. Download the free technical research on JPM by signing up at
Although the broad market continued to rally in Thursday's session, shares of KeyCorp finished flat. However, the stock managed to touch a 52-week high of $10.05 earlier during the day. The stock closed at $10. KeyCorp is another stock in the financial sector that has outperformed the broad market this year. Year-to-date, the stock has gained more than 18%, compared to a gain of 9.60% for the S&P 500. The bank's shares have seen a series of highs in the last two weeks after breaking through $9.60 resistance level. This is a bullish signal. This optimistic trend is further confirmed by recent volume activity and the stock's MACD chart. Register now and get access to the free analysis on KEY at
Shares of SunTrust Banks Inc. posted a small loss in its previous session even as the broad market rallied. The stock ended the day 0.03% lower at $29.62. SunTrust Banks' shares are currently trading close to their 52-week high of $30.79. The stock, however, has underperformed the broad market in 2013, gaining nearly 4.50%. Shares of STI recently broke through $29 resistance level. However, the stock has trade sideways since breaking through the key technical level. Sign up and read the complimentary report on STI at
The Bank of Nova Scotia shares posted modest gains in Thursday's trading session. The stock closed 0.65% higher at $58.86, taking its gains for the year to nearly 1.70%. The bank's shares have traded sideways in the last three months. It has been struggling to break through $59.50 resistance level. It currently has support at around $58.50. The stock's MACD is currently below the signal line, which is a bearish signal. The free report on BNS can be downloaded by signing up now at
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