Thursday, May 17, 2007

US stock indexes advance on expectations about deals

(Reuters) - U.S. stocks jumped on Wednesday as major investors disclosed stakes in Citigroup, several railroads and health-care companies, raising expectations that further takeovers could be coming.

Shares of Citigroup climbed 4 percent, and were the top driver of the Dow in its 23rd record close this year, after a hedge fund run by Edward Lampert disclosed it owned 15.2 million shares in the largest U.S. bank.


Read more at Reuters Africa

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