US stocks advanced amid merger talks

Source: Dukascopy Bank SA
US stocks closed higher on Tuesday amid speculation that the number of mergers and acquisitions will soar. Moreover, risk appetite among investors was boosted by upbeat reading of German investor sentiment indicator. The S&P 500 Index added 0.73% to end the session at 1,530.94. All but one industry included in the index jumped. The top-performers were oil and gas as well as utility companies. Conocophillips rose 2.77%, while American Electric Power Company climbed 0.95%. Staples surged 13.13% after the Wall Street Journal announced on Monday that its two smaller rivals Office Depot and OfficeMax are in merger talks. Other notable gainer was Sealed Air Corp., adding 9.02%, the second biggest advance in S&P 500. The firm rallied after posting upbeat results for Q4. General Mills also moved higher, jumping 1.88% as the firm reaffirmed its outlook for 2013. At the same time, Humana Inc. was the top laggard as the proposed government's 2014 Medicare payment rates were much lower than anticipated and would hit the company's profits.
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Wed, 20 Feb 2013 15:14:04 GMT

Dow climbed 0.39% on Tuesday

Dow Jones Industrial Average Index rallied on Tuesday, being boosted by strong performance of the broader S&P 500 Index. Pushing the US blue chips higher, German investor confidence improved more than expected last month. Meanwhile, market players remained focused on upcoming FOMC minutes due on Wednesday. The Dow Jones Industrial Average Index climbed 0.39% to close at 14,035.67. Six

Wed, 20 Feb 2013 13:42:04 GMT

Soybeans Advanced amid Higher Demand from China

Soybeans grew to the highest in one week in Chicago on demand from China, the largest consumer of the oilseed, may increase, and on low rainfall in Argentina, the third-largest supplier, may delay harvesting. The contract for May-delivery of soybeans advanced 0.7% to $14.6775 a bushel in Chicago, after reaching $14.70, the strongest level since February 8.

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