US financial stocks soared on Wednesday on investor relief that capital shortfalls identified by the government’s “stress tests” of 19 large banks were not as big as some had feared. The bank rally took off as news of the test results leaked out ahead of their official release on Thursday. The tests reportedly found that Citi, Bank of America and Morgan Stanley must raise equity, while JPMorgan, Goldman Sachs and Amex are among those that will not need additional capital

This entry was posted by Gwen Robinson on Thursday, May 7th, 2009 at 5:21 and is filed under Capital markets. Tagged with amex, BofA, citi, goldman sachs, jpmorgan, morgan stanley. Edit this entry.