Stocks made gains Monday after the largest AIG asset sale since the start of the financial crisis and discussion of the most recent bailout package for Greece helped ease investor anxiety.
The Dow Jones industrial average tacked on 60 points by Monday afternoon trading. An announcement from America International Group that they have agreed to sell their Asian life insurance branch to Britian’s Prudential PLC for $35.5 billion pushed up shares of the company by 6.2 or $1.54 to $26.31.
The Nasdaq composite climbed sharply after stock in OSI Pharameuticals spiked 50 percent following the announcement from a Japanese drugmaker that they are interested in acquiring the company.
Overseas markets also improved as talk of a bailout arrangement for Greece improved morale.
In afternoon trading, the Dow is up 59.63, or 0.6 percent, to 10,384.89 while the Standard & Poor's 500 index gained 10.41, or 0.9 percent, to 1,114.90. The Nasdaq , led by OSI, rose 32.11, or 1.4 percent, to 2,270.37.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription
