JPMorgan shares rise on advanced results date

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) shares climbed nearly 7 percent on Tuesday after the company said late Monday it is bringing forward its results by six days.

JPMorgan shares climbed as much as 6.7 percent on Tuesday as some investors interpreted positively the bank's decision to announce fourth-quarter results on January 15, six days sooner than planned. The stock ended at $26.35, up 5.8 percent on the New York Stock Exchange.

In addition, JPMorgan Chief Executive Jamie Dimon has consistently warned that the bank's results in the fourth quarter are under pressure from rising unemployment and consumer credit concerns, and some investors said the stock may have been oversold on these warnings.

"I think you are seeing some investor interest in JPMorgan as one of the survivors of the banking industry," said Bill Hackney, managing partner at Atlanta Capital Management.

But some analysts noted JPMorgan shares may just have been recovering after a pummeling on Monday that saw the shares slump 4 percent on fears the wider financial sector might be returning to its November lows, when Citigroup Inc (C.N) received $45 billion from the U.S. government.

Across the financial sector, stocks rallied on Tuesday after Citigroup said it will restructure its business. The KBW Bank Index .BKX was up about 1 percent on the day.

"These stocks have been destroyed," said Marshall Front, chairman of Front Barnett Associates in Chicago. "Any ray of hope can kindle a substantial rebound," he added.

Some analysts said the financial sector was also helped by Federal Reserve Chairman Ben Bernanke's declaration in a London speech that more steps were needed to stabilize banks, reviving the idea of authorities sopping up toxic assets from bank balance sheets.

(Reporting by Elinor Comlay, editing by Matthew Lewis)