Business Update: US bonds climb Mon, March 1 2010 Traders work on the building of the New York Stock Exchange, Feb 18, 2010.
Credit: Reuters/Brendan McDermid
NEW YORK (Reuters) - U.S. bonds rose for a second true day on Monday, increasing by AIG"s record-setting understanding to sell a vital Asian section and on gains in semiconductor shares after SanDisk Corp carried the income forecast.
Hopes for an agreement to finalise whinging doubt surrounding debt-laden Greece additionally speedy investors.
American International Group Inc (AIG.N) jumped 4.4 percent to $25.85 after Britain"s Prudential Plc (PRU.L) concluded to buy the AIA Group word arm for $35.5 billion. That and alternative partnership and partnership headlines carried view since it suggests corporate managers see purchases of alternative companies as a approach to expostulate growth.
"The marketplace regularly loves partnership and partnership wake up since it equates to people or alternative companies are anticipating worth out there in the marketplace place," pronounced Scott Marcouiller, comparison equity marketplace strategist at Wells Fargo Advisors in St. Louis, Missouri.
SanDisk Corp (SNDK.O) climbed 11.9 percent to $32.63 after the peep mental recall builder carried the income foresee for the initial entertain late Friday and pronounced the opinion for the industry in the entrance years is strong. The PHLX Semiconductor index .SOXX combined 3.1 percent. [ID:nN26219612]
There were additionally a little certain signs from the economy after unsatisfactory interpretation last week. U.S. consumer spending increasing somewhat faster than approaching in Jan whilst the U.S. production zone grew.
The Dow Jones industrial normal .DJI gained 78.53 points, or 0.76 percent, to 10,403.79. The Standard Poor"s 500 Index .SPX combined 11.22 points, or 1.02 percent, to 1,115.71. The Nasdaq Composite Index .IXIC rose 35.31 points, or 1.58 percent, to 2,273.57.
Stocks have been clever recently, with the SP 500 rising for 7 of the last ten sessions.
"It"s been a flattering great brew of groups today, so you"ve had clever underlying care too, and the convene has been utterly broad," pronounced Marcouiller.
The SP 500 is right away off usually 3 percent from a 15-month shutting high reached on Jan 19. It had depressed by some-more than 8 percent from the rise by Feb 8.
Adding to Monday"s gains were signs that Athens competence be impending a understanding with European Union governments for a little form of puncture aid. U.S.-listed shares of National Bank of Greece (NBGr.AT)(NBG.N) rose 2.3 percent to $3.95.
Millipore Corp (MIL.N) surged 11.1 percent to $104.90 a day after Germany"s Merck KGaA (MRCG.DE) concluded to buy it for about $6 billion in cash.
The NYSE Arca Biotech index .BTK jumped 5.7 percent, led by OSI Pharmaceuticals Inc (OSIP.O), that modernized 51.9 percent to $56.25 after Japan"s Astellas Pharma Inc (4503.T) launched a $3.5 billion antagonistic bid for the company.
On the mercantile front, interpretation from the Institute for Supply Management showed the U.S. production zone grew in February, though the gait was slower than economists polled by Reuters forecast.
In addition, supervision interpretation showed U.S. consumer spending increasing somewhat faster than approaching in Jan as consumers dipped in to their assets whilst incomes rose slightly.
About 7.57 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, well next last year"s estimated each day normal of 9.65 billion.
Advancing bonds outnumbered disappearing ones on the NYSE by a comparative measure of scarcely 4 to 1, whilst on the Nasdaq, about 3 bonds rose for each one that fell.
(Editing by Kenneth Barry) Keywords: MARKETS STOCKS
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