Better times for mergers and acquisitions in the US
While Main Street, USA, still struggles to regain a decent footing, Wall Street players are back doing what they usually do – making deals. Xerox, Abbott, Dell and Kraft Foods will spend more than $32-billion on expansion. Compared to the hay days it’s still chump-change, but the pundits hope it’s a sign the gates of recovery are opening. The deals had a positive impact on the stock market too: Dow Jones jumped a whopping 124 points (1.3%) to 9789.36, while S&P and Nasdaq did even better (up 1.8% and 1.9% respectively). The happiness was felt in Europe too where the FTSE 100 rose 1.64%, the CAC 40 up 2.3%, while the DAX in Frankfurt rose 2.78% - apparently celebrating Angela Merkel’s electoral victory.