Stocks edge higher after Greece debt concerns ease

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Stocks edge higher after Greece debt concerns ease

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Monday, 12 April 2010 12:07

Raised NEW YORK (AFP) - Stocks higher after a calm fears about debt in Greece and a number of acquisitions, the outlook for the economy.

European leaders agreed over the weekend to make loans available to Greece to help the country reduce the burden of public debt. Agreement Greece will allay the fears of default.

In the United States, Mirant has agreed to acquire rival power Reliant Energy for $ 1.61 billion company. Private equity firm Cerberus Capital Management is to buy DynCorp International, a provider of support services for the operations of U.S. national security, for 1 billion dollars.

At midday, the Dow Jones industrial average of 21 per 11,019. Standard & Poor's 500 index rose 3 per 1,197. The Nasdaq composite index by 4 2458.

This is an update and breaking news. Check back soon for further information. A father earlier below.

NEW YORK (AFP) - Stocks fell on Monday to allay fears about debt in Greece and a number of acquisitions that raised expectations for the economy.

The Dow Jones industrial average rose 20 points to go back over the psychological level of 11,000 and the S & P 500 close to 1,200.

Loan agreement for Greece and the United States allowed investors to turn their focus to a busy week of earnings reports from economic and corporate governance.

European leaders agreed over the weekend to make loans available to Greece to help the country reduce the burden of public debt. And agreed to the 16 nations using the euro to provide 30 billion euros (40.5 billion dollars) in loans to Greece, if necessary. Can contribute to the International Monetary Fund of 10 billion euro (13.5 billion dollars).

The loans carry interest rates lower than the lenders from the private sector had been demanding in recent days to hold debt Greek. The concern of traders Greece and default on its loans.

Details to help calm fears, who was one of the few negative effects on the stocks. There had been fears in recent months and that mounting debt in Greece and other European countries such as Spain, Portugal and the trick to achieve economic recovery in Europe and undermine the common European currency, the euro.

"It is clear that this is a positive development that the European Union is to identify and deal with what is actually is the first real challenge," said Alan Gayle, senior investment strategist for investment RidgeWorth.

On the other hand, indicated the latest round of dealmaking companies more confidence in the recovery of business leaders.

Mirant has agreed to acquire rival power company Reliant Energy Inc. for 1.61 billion dollars, while private equity firm Cerberus Capital Management is to buy DynCorp International, a provider of operations support services to U.S. national security, for 1 billion dollars.

In late morning trading, the Dow Jones 22.22, or 0.2 percent, to 11,019.57. The index of the Standard & Poor's 500 Index 3.28, or 0.3 percent, to 1,197.65 while the Nasdaq composite index rose 3.42, or 0.1 percent, to 2,457.47.

And bond prices rose. The yield on Treasury note and the standard 10 years to 3.85 percent from 3.88 percent on Friday.

And rose gold. Crude oil rose 35 cents to 85.27 dollars a barrel on the New York Mercantile Exchange.

Dow Jones is coming off sixth straight weekly gain, which is at the highest level in 18 months. The Dow Jones above 11,000 for the first time since September 2008 in the final moments of trading on Friday before the end of the session just below this threshold.

Has helped to mitigate concerns about the debt problems of Greece on Friday, driving stocks higher.

Dow component Alcoa Inc. opens the earnings season after the market closes on Monday. Intel Corp. and JP Morgan Chase & Co., Bank of America, Google Inc. and General Electric all report earnings this week also.

Reports on inflation and retail sales, manufacturing and housing will be released throughout the week. Has contributed to a steady rise in recent months, as reports show sustained economic growth, but slowly.

The index Russell 2000 from the smaller companies 1.53, or 0.2 percent, to 704.48.

Shares for every four that fell on the three New York Stock Exchange, where volume came to 295.6 million shares, compared with 348.5 million shares at the same point Friday.

In afternoon trading, the FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.1 percent and the CAC 40 rose 0.2 percent. Earlier, the Nikkei average of Japanese shares rose 0.4 percent.

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