The Dow and S&P 500 extended their run of record high closes for a fourth session today, led by transportation and healthcare shares.
The Dow Jones transportation average jumped 1.3 percent, also closing at a record high, led by railroads and airlines. Union Pacific rose 1.8 percent to $120.90, among the top gainers on the S&P 500, while JetBlue jumped 4.2 percent to $13.09.
Results late Friday from Berkshire Hathaway showed profit from the BNSF railroad rose about 5 percent. Berkshire’s Class B shares added 1 percent to $145.05.
Oil prices extended recent losses, with US crude below $78 a barrel, helping airlines and some consumer names.
S&P health care climbed 1 percent, led by Abbvie , up 3.7 percent at $63.79, the biggest percentage gainer in the S&P 500.
The Dow Jones industrial average rose 39.81 points, or 0.23 percent, to 17,613.74, the S&P 500 gained 6.34 points, or 0.31 percent, to 2,038.26, and the Nasdaq Composite added 19.08 points, or 0.41 percent, to 4,651.62.
European stocks also rose, boosted by acquisition activity in the oil services industry, where Dutch group Boskalis took a stake in Fugro, and in the telecoms and food sectors.
Fugro jumped 49 percent after sector peer Boskalis bought about 15 percent of its shares, which have lost more than half of their value since June.
Boskalis denied any intention of making a full bid but its surprise purchase boosted takeover hopes in the sector and sent shares in some of Fugro’s top competitors, TGS Nopec and Polarcus soaring.
Belt-tightening by energy majors faced with plunging oil prices has hit shares in oil services companies, driving stocks such as Saipem and Fugro to multi-year lows.
Shares in Portugal Telecom jumped 11.8 percent to 1.36 euros following a 1.35 euros a share takeover bid for the company by Angola’s richest woman, Isabel dos Santos.
M&A activity also lifted Nutreco, which surged 14.4 percent as SHV raised its bid for the Dutch animal feed and nutrition company.
Nutreco and Fugro were the top risers on the STOXX Europe 600 index, which rose 0.7 percent to 337.71 points.
The FTSEurofirst 300 index of top European shares also added 0.7 percent to close at 1,354.75 points, more than recouping a 0.5 percent drop suffered last week.
Meanwhile, Japanese stocks fell to a one-week low today as the yen rebounded against the dollar after US jobs data fell short of expectations, while Nippon Telegraph and Telephone Corp tumbled on a profit warning.
The benchmark Nikkei share average ended 0.6 percent lower at 16,780.53, the lowest closing level since October 31.
The broader Topix shed 0.3 percent to 1,360.11, and the JPX-Nikkei Index 400 declined 0.3 percent to 12,412.00.
Source. Buenos Aires Herald