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Main indexes of world stocks

28 March 2023 09:43 (UTC +04:00)

The S&P 500 ended slightly higher on Monday as a deal for Silicon Valley Bank's assets helped to boost bank shares, while a decline in technology-related stocks limited the day's gains, APA reports citing Reuters.

The S&P 500 banks index (.SPXBK) rose 3.1%, while the KBW regional banking index (.KRX) ended up 0.6%.

JPMorgan Chase & Co (JPM.N) shares climbed 2.9% and Bank of America (BAC.N) added 5%. They were among stocks giving the S&P 500 its biggest boost on Monday.

Shares of First Citizens BancShares Inc (FCNCA.O) shot up more than 50% after it said it would acquire the deposits and loans of Silicon Valley Bank, which failed earlier this month in the largest bank collapse since the 2008 financial crisis.

Also, shares of First Republic Bank (FRC.N) were up 11.8% after Bloomberg reported U.S. authorities were considering more support for banks, which could give the struggling First Republic more time to shore up its balance sheet.