State Street posts stronger quarterly earnings

BOSTON, Oct 16 (Reuters) State Street Corp, the world's biggest institutional money manager, said on Tuesday profit rose in the third quarter, boosted mostly by stronger financial markets.

Boston-based State Street, which also makes money by holding trillions of dollars in securities in custody and calculating the bulk of mutual fund prices printed in newspapers, said net income climbed to 8 million, or 91 cents per share, from 8 million, or 83 cents per share, a year earlier.

The company said earnings included 1 million, or 24 cents per share, of merger and integration costs associated with the July acquisition of Investors Financial Services Corp.

(Reporting by Svea Herbst-Bayliss) REUTERS SI RN1838