U.S.
stocks fluctuated as Mylan NV rallied on a takeover offer, while
investors assessed mixed corporate earnings from Travelers Cos. to Lam
Research Corp. Gold advanced.
The
Standard & Poor’s 500 Index slipped 0.1 percent at 12 p.m. in New
York, after its best rally of the month Monday. The Nasdaq Composite
Index topped 5,000 as Lam Research surged 8.2 percent after results beat
estimates, while Travelers led the Dow Jones Industrial Average lower.
The Stoxx Europe 600 Index jumped 0.6 percent. The euro erased a loss
versus the dollar, and Greece’s 10-year bonds fell for a seventh day.
Gold climbed on haven demand as concern grew about a possible Greek
default.
Mylan
rallied after Teva Pharmaceutical Industries Ltd. made an unsolicited
offer to buy it for about $40.1 billion, in the drug industry’s largest
takeover attempt this year. Investors assessed mixed earnings from Under
Armour Inc. to United Technologies Corp. for clues on the strength of
corporate balance sheets.
Source : Bloomberg
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