Bloomberg News reports that the bank’s shares jumped 8.3% in New York trading Friday -- the most since November 2011 - after the chief executive officer spent $26.6m for 500,000 shares. Dimon’s paper gain was about $2.2m after the price surged to $57.49. He paid from $53.13 to $53.30 apiece on Thursday.
Financial stocks rallied as the 24-company KBW Bank Index, which had plunged 23% this year through Thursday, rose 5.4% on Friday. Dimon, 59, now owns a total of 6.75m shares in the New York-based lender he’s run since the end of 2005.
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