US SMALL/MIDCAPS-Earnings lift financials, manufacturers

By Chuck Mikolajczak

NEW YORK, Oct 14 (Reuters) - Mid- and small-cap averages hit their highest level in a year after strong earnings results from Lufkin Industries Inc (LUFK.O) and Commerce Bancshares Inc (CBSH.O) fueled optimism sparked by solid earnings from JPMorgan Chase & Co (JPM.N).

Commerce Bancshares Inc gained 7.5 percent to $39.90 after posting third-quarter earnings that topped Wall Street forecasts. [ID:nWNAB8953] The S&P MidCap Financial index .4GSPF added 1.8 percent.

JP Morgan reported quarterly profit to a much higher-than-expected $3.6 billion as bond trading revenue surged. For details see, [ID:nN13183184]

"It's no great surprise the report was seen as very positive," said Stephen Massocca, managing director, Wedbush Morgan in San Francisco.

Lufkin Industries Inc rose 11.1 percent to $62.26 after the smallcap diversified manufacturer reported better-than-expected quarterly results, aided by sequentially better results at its oilfield division. [ID:nBNG122414]

Also moving higher after quarterly results was Healthcare Services Group Inc (HCSG.O) after the facility maintenance and food service provider reporter third-quarter earnings that matched Wall Street estimates and revenue that was slightly higher than expectations. [ID:nWNAB8636]

The S&P MidCap 400 index .MID climbed 1.3 percent and the S&P SmallCap 600 index .SML rose 1.4 percent. The large cap S&P 500 .SPX gained 1.4 percent.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)