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Article: United Kingdom : Australia shares jump 0.9 pct; mergers action lifts.
- Article from:
- TendersInfo
- Article date:
- September 8, 2009
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Byline: rakshali03
Australian stocks rose 0.9 percent on Tuesday as a $16.7 billion bid for UK confectionery firm Cadbury and a flurry of local resources deals lifted investor hopes for a resumption of global merger activity.
Markets viewed the bid by North America's Kraft Foods for Cadbury, which was rejected, as a sign of recovery after the turmoil of the past year. ID:nL7524247
"The talks with Cadbury will certainly stir the market about future M&A activities, especially as global markets appear to be improving. (It's) at least a step to further recovery," said Macquarie Equities division director Lucinda Chan.
The benchmark S&P/ASX ...