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Shares of the Pittsburgh-based bank closed at $43.12, up 92 cents, in trading.
PNC was told by regulators to raise $600 million to bolster capital after a government stress test of its ability to weather a deeper, prolonged recession.
PNC said this month it would raise the funds through retained earnings and "other capital-markets alternatives" and wouldn't convert its $7.6 billion in Troubled Asset Relief Program preferred stock.
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