Sector Snap: Regional bank stocks soar

NEW YORK - Shares of regional banks soared Thursday, along with the broader market, as Wall Street found solace in a better-than-expected reading on the U.S. economy.

Gross domestic product rose at an annual rate of 3.3 percent for the April to June period, the Commerce Department said Thursday, as a weaker U.S. dollar drove exports. The growth, which was better than economists had expected, marked the economy's best performance since the third quarter of last year.

Also Thursday, the Labor Department said the number of jobless claims fell for the third straight week.

First Horizon National Corp. jumped 55 cents, or 5.3 percent, to $10.86 in afternoon trading.

Comerica Inc. advanced $1.26, or 4.8 percent, to $27.70. KeyCorp rose 53 cents, or 4.8 percent, to $11.60.

M&T Bank Corp. added $2.45, or 3.6 percent, to $70.41, while Synovus Financial Corp. gained 28 cents, or 3.2 percent, to $9.02.

Hudson City Bancorp Inc. jumped 49 cents, or 2.7 percent, to $18.40.

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