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Banks lead stock rally

Published 03/02/2012, The Jamestown Sun

Banks dodged a big hit from the Greek debt crisis and rallied Thursday to lead the stock market higher. Strong retail sales and more encouraging news about the U.S. job market also helped stocks rise. The banks of the world are on the hook for as much as $70 billion in bond-insurance payments if Greece defaults on its debt. But a panel ruled that Greeceā€™s plan to restructure its debt should not trigger any insurance payments, at least not yet.

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