Buffalo stocks rose for the week, led by HSBC Holdings Plc and M&T Bank Corp.
The Buffalo Bloomberg Stock Index climbed 12.57, or 7.7 percent, to 175. Thirty-seven stocks in the index rose, 10 fell and two were unchanged. The index has dropped 15 percent in the third quarter ended today.
HSBC Holdings, Europe's biggest bank by market value, rose $8.95, or 20 percent, to $53.70, its biggest weekly percentage gain of the year. Analysts have said the London-based company may buy back its shares.
M&T Bank climbed $9.05 to $74.
General Motors Corp. rose $2.65 to $42.90.
Among stocks that fell was Gibraltar Steel Corp., which dropped $2.20 to $15.10 in five days.
Bush Industries Inc. fell $1 to $8.83 and reached a 52-week low of $8.10 in midmorning trading Friday.
The Bloomberg Buffalo Stock Index, an employee-weighted list of companies with operations in the region, was developed with a base value of 100 as of Dec. 30, 1994. The index set a 52-week high of 208.54 on May 22, and a 52-week low of 159.28 on Monday.