Stocks rose on Monday, extending their recovery from 12-year lows hit earlier this month, after comments from Britain's Barclays made it the latest bank to buoy hopes that some stabilization may be returning to the sector.

Shares of Citigroup rose 8.4 percent to $1.93 and JP Morgan Chase gained 1.1 percent to $23.95. The KBW Bank index <.BKX> climbed 2.4 percent.

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