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Article source : internal +++ testing English title COUNTRYWIDE ++++ NEW YORK (Reuters) - Stocks rose in active trading volume on Monday, although off session highs, as two multibillion-dollar takeover deals encouraged investors to buy stocks in a vote of confidence on business conditions. Reports on the housing sector early in the day bolstered expectations of an economic rebound. Bank stocks rose sharply after Bank of America Corp. (NYSE:BAC - News), the third-biggest U.S. bank, said it agreed to buy FleetBoston Financial Corp. (NYSE:FBF - News), the No. 7 bank, for about $43 billion in stock, likely paving the way for more deals in the sector. In the other hefty deal, Anthem Inc. (NYSE:ATH - News) said it would buy WellPoint Health Networks Inc. (NYSE:WLP - News) for about $14 billion, creating the nation's largest health insurer, with vast negotiating power across the health care industry. Blue-chip stocks pared those gains late in the afternoon after financial giant American Express Co. (NYSE:AXP - News) failed to meet some investors' sky-high expectations for its quarterly results. Back to last infos countrywide
Article References author: internal source: webmaster daytraderbusiness.com first published: 27-10-2003 |
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