US Stocks Rise On Enbridge, GE Acquisitions

Rukhshan Mir (@rukhshanmir) Published September 06, 2016 | 06:45 PM

US stocks rise on Enbridge, GE acquisitions

NEW YORK, (UrduPoint / Pakistan Point News -6th Sept,2016) - Wall Street stocks opened higher Tuesday, lifted by merger announcements, including Canadian pipeline company Enbridge's acquisition of Spectra Energy in an all-stock deal valued at $28 billion.

The Enbridge deal will create an network of oil and gas pipelines serving most of Canada and the United States. Spectra surged 10.7 percent, while Enbridge advanced 1.

9 percent. General Electric slipped 0.2 percent after announcing $1.4 billion in 3D printing acquisitions, while Monsanto climbed 0.6 percent on news Germany's Bayer raised its bid for the US company.

Five minutes into trade, the Dow Jones Industrial Average stood at 18,541.41, up 0.3 percent. The broad-based S&P 500 gained 0.1 percent to 2,182.42, while the tech-rich Nasdaq Composite Index added 0.1 percent at 5,254.64.

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