Go Finance Reporting in New York - Action of corporate mergers undertaken in the United States (U.S.) managed to push up the Dow Jones and S & P to the highest peak in the last two and a half years.
Manufacturing company Danaher Corp., which agreed to buy medical diagnostics company Beckman Coulter Inc., valued at $ 6, 8 billion. EnsCo oil driller Company Plc also said it would buy Pride International Inc. (PDE.N) worth $ 7, 3 billion.
Action seems more incentive to buy after the S & P 500 through 1313 figures. This makes the index ran farther into the level as before the financial crisis. However, this index rise occurred amid relatively low volume.
"This transaction is an indication that the buyers feel comfortable putting their cash in money market, by buying shares of an undervalued company," said chief investment officer at PNC Wealth Management James Dunigan, as quoted by Reuters, in Philadelphia.
Danaher Corp. rose 2.2 percent to USD49, 03 while Beckman Coulter rose 10 percent to U.S. 82.65. EnsCo fell 4.2 percent to USD52, 13 while Pride International rose 15.7 percent to $ 39, 80.
At the close of trading on Monday (02/07/2011) local time, the Dow Jones industrial rose 69.40 points, or 0.57 percent to 12161.55. The broader Standard & Poor's 500 index rose 8.18 points, or 0.62 percent to 1319.05. While the Nasdaq Composite Index rose 14.69 points, or 0.53 percent to 2783.99. (GoFinance)
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