Bank of America Corp. (BAC), the biggest U.S. lender, led the Dow Jones Industrial Average higher as the company prepared more asset sales to bolster capital and international officials vowed to head off a financial crisis.

The bank rose 27 cents, or 4.5 percent, to $6.33 at 12:16 p.m. in New York Stock Exchange composite trading. Bank of America is in exclusive talks to sell its stake in NPC International Inc., the biggest U.S. Pizza Hut franchisee, for more than $800 million, said two people with knowledge of discussions. The lender also agreed to sell about $880 million in commercial mortgages at a discount of as much as 25 percent, said another person.

Bank stocks gained in Europe and the U.S., aided by a statement from Group of 20 officials who said after talks in Washington they’re “committed to a strong and coordinated international response” to help the global economy. The European Central Bank may step up efforts to boost growth and ease financial-market tensions as early as next month, Governing Council members said. Read More