* Card spending volumes rose in October from September

* Shares rise 1.5 pct to new 14-month high (Adds CEO comments, stock price, byline)

By Juan Lagorio

NEW YORK, Nov 10 (Reuters) - American Express Co (AXP.N: Quote, Profile, Research) said credit card spending increased in October from September in another sign that the worst of the financial crisis may have passed for the largest U.S. credit-card company, sending its shares up 1.5 percent to a 14-month high.

American Express card spending, adjusted for foreign exchange factors, was down just 1 percent in October compared with a year earlier, Chief Executive Kenneth Chenault said on Tuesday.

That showed improvement from a decline of a bit more than 5 percent in September and almost 10 percent in August.

"The trends in spending are encouraging, and there are signs that the recession may be approaching an end," Chenault said at a financial services conference organized by Bank of America Merrill Lynch.

Spending volume rose in October to the highest level since last December. "We view this performance as positive," Chenault said.

Chief Financial Officer Dan Henry in October said spending volumes had been stable since May and forecast spending could decline in the low single digits or be flat in the fourth quarter compared with a year earlier.