S&P SmallCap 600 in Focus: LAB PBKS

The Standard & Poor's SmallCap 600 Index advanced on Friday as economic data indicated inflation was rising in line with estimates and oil prices declined.

The S&P SmallCap 600 _ which tracks stocks with a market capitalization between $300 million and $2 billion _ rose 3.45 to 383.49.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into large-cap stocks.

The Labor Department reported Friday that consumer prices rose by 0.6 percent last month, the biggest one-month increase in six months, but the jump was led mostly by volatile food and energy prices. Core inflation rose more modestly.

Oil prices, meanwhile, fell $1.27 to $135.47 on the New York Mercantile Exchange after OPEC questioned in a report whether crude prices can remain so high through the rest of the year.

Investment bank LaBranche & Co. soared 82 cents, or 11.6 percent, to $7.90.

The Knot Inc. jumped 80 cents, or 11.3 percent, to $7.88. A Kaufman analyst started the wedding Web site operator at "Buy," saying it will benefit from its No. 1 position in the lucrative wedding market.

Investment house SWS Group Inc. added $1.36, or 7.9 percent, to $18.54.

Regional banks led the decliners. Provident Bankshares Corp. fell 64 cents, or 8.6 percent, to $6.82 after reaching a 15-year low of $6.77.

Boston Private Financial Holdings Inc. tumbled 50 cents, or 7.6 percent, to $6.07. Shares reached an 11-year low of $5.98 earlier in the session.

Old National Bancorp. gave up $1.25, or 7.6 percent, to $15.16.