Marshall & Ilsley - Worst Performing Bank

Published on Thursday, 29 December 2011 16:46 Written by Christian Paolinetti

New York, December 29th (TradersHuddle.com) - The KBW Bank Index closed higher at $39.7, which represents 2.11% from its previous close. The bank index had a broad rally with all Index components on the positive side.

Synovus (NYSE:SNV) was the top performer of the banking index, closing at $1.45 representing 4.32%. versus the previous trading session. Shares of Synovus, the financial services holding company based in Coumbus Georgia have defined support at $1.28 and resistance at $1.46.

Bank of America (NYSE:BAC) was also among the top performers, closing at $5.46 representing 3.22% from its previous close. Bank of America, the largest U.S. lender has calculated support and resistance levels at $4.92 and $5.63 respectively. The other top performer was SunTrust Banks (NYSE:STI), which traded at $17.72 representing 3.08% from the previous trading session.

The bank's worst performers include Marshall & Ilsley (NYSE:MI) that closed at $7.9 or 0% from the previous close. Shares of Marshall & Ilsley, the Wisconsin based diversified financial services firm have defined support at $7.56 and resistance at $7.93. Also among the worst performers was State Street (NYSE:STT), which is currently trading at $40.78 representing 1.19% from the previous trading session.

Today, the banks outperformed the broad market index S&P 500.