(MONEY Magazine) – Stocks of companies based in Cincinnati outperformed those of 23 other metropolitan areas in the third quarter, according to the exclusive MONEY/ Nordby Cities Index. It is composed of a series of indexes, each consisting of shares in 12 representative companies with headquarters in 24 metropolitan areas. The Ohio city's 11.3% gain nearly tripled the S&P 500-stock index's 4.2% increase. Cincinnati's rapid rise from 14th place in the second quarter was largely because of double-digit gains by seven of its 12 stocks, led by Chiquita Brands International (annual sales of $2.6 billion). Its shares jumped 36.1%, thanks to aggressive cost cutting and stepped-up exports to Europe. Long Island (up 11%) placed second with eight double-digit gainers, headed by $385 million Standard Microsystems. Its shares soared 39.5% because of growing demand for its computer-networking equipment. In third place was San Diego, which posted an 8.5% gain, as $260 million Qualcomm surged 58.2% on brisk sales of its OmniTracs satellite transmission system. In other regions, Phoenix led the West with a 6.6% gain, largely because of jumps by three stocks: $593 million pet-food retailer Petsmart (32.2%), $540 million casino operator Aztar (19.2%) and $825 million Magma Copper (14.9%), a mining company. In the Central States, Minneapolis/St. Paul excelled, moving up 4.9% as shares of $1.7 billion Medtronic, the world's largest manufacturer of pacemakers, pumped out a 32% increase. The Mid-Atlantic was led by Pittsburgh, on the strength of $6.1 billion USXPU.S. Steel Group, which rose 23.6%. Atlanta was king of the South with a 6.6% gain, owing to $13 billion paper- and wood-products maker Georgia Pacific's 27.8% jump.

The worst-performing city, Washington, D.C., fell 1.7%. Its biggest loser was USAir Group, whose shares plummeted 27.5% after its jet crashed September in Pittsburgh, killing all 132 people aboard. The MONEY/Nordby Cities Index tracks only price changes, not dividends, and the stocks in each city index are equally weighted.

CHART: NOT AVAILABLE CREDIT: NO CREDIT CAPTION: HOW 24 U.S. CITIES RANKED

CHART: NOT AVAILABLE CREDIT: Source: Nordby International CAPTION: HOW SEVEN U.S. REGIONS COMPARED Long Island stocks' strong gains led the Northeast's pacesetting 6.7% increase, while sinking shares in Washington, D.C. and Philadelphia put the Mid-Atlantic region dead last.