U.S.
stocks rose, with equities rising the most in three months, after
Warren Buffett’s Berkshire Hathaway Inc. agreed to buy Precision
Castparts Corp. and commodities-related shares rallied.
The Standard & Poor’s 500 Index gained 1.3 percent to 2,104.13 at 4 p.m. in New York, its biggest gain since May.
China’s
stocks posted their biggest gain in a month amid speculation the
government will accelerate mergers of state-owned enterprises to bolster
economic growth. Investors also speculated China will act to prop up
growth following a wider-than-expected drop in exports.
The
S&P 500 dropped 1.3 percent last week while the Dow posted its
longest losing streak in four years, amid a slump in media and
biotechnology shares and as Apple Inc. fell into a correction. The
S&P 500 has trailed most developed-market gauges this year, while
speculators’ appetite for stock-market volatility has reached a
nine-year high. The gauge closed Monday 1.3 percent below its May
record.
Source : Bloomberg
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