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Article: Stocks rise as takeover news boosts traders' mood
- Article from:
- AP Online
- Article date:
- September 8, 2009
- Author:
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News about corporate takeovers is making investors more optimistic about the economy and giving them new reasons to buy stocks.
Stocks rose Tuesday as investors were encouraged by takeover news from overseas. Surging oil and gold prices pushed energy and materials stocks higher.
Deutsche Telekom AG and France Telecom SA said they plan to combine their British mobile phone units _ T-Mobile UK and Orange UK _ to form that country's biggest mobile operator. And while Cadbury PLC rejected a takeover bid from Kraft Foods Inc., companies' reviving interest in making acquisitions is being seen as a welcome sign for the economy.
The increase in corporate takeover activity ...