Global
stocks resumed an autumn rally, while bonds retreated as firmer factory
data in Europe and the U.S. countered a slowdown in China.
U.S.
stocks joined gains in overseas equities, with health-care sector deals
adding to optimism after factory data in Europe and America topped
estimates. The unexpected acceleration in output damped demand for
government bonds. Oil led commodities lower as Chinese manufacturing
contracted.
The
Standard & Poor’s 500 Index climbed 0.7 percent at 11:57 a.m. in
New York. The gauge rallied 8.3 percent in October for the best
performance in four years, though equities ended the month on a two-day
slide.
Corporate
deal activity helped boost health-care companies as Dyax Corp. jumped
32 percent after Shire Plc agreed to buy the drugmaker for at least $5.9
billion. Mylan NV and AbbVie Inc. rose more than 4 percent. Pfizer Inc.
climbed 2 percent as people with knowledge of the matter said the
company is making progress in talks to buy Allergan Plc.
Source: Bloomberg
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