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Bank stocks defy rating agencies' prognosis

STI closes 3.04 points up at 2,955.23 as Dow futures stage late spike and Europe opens higher

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THE Straits Times Index on Tuesday drifted within a narrow band before finishing at 2,955.23 for a gain of 3.04 points on the day after a late spike in the Dow futures suggested a seventh consecutive rise in the Dow Jones Industrial Average on Tuesday, and after Europe opened in the black.

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