US STOCKS-Wall St jumps as G20 says cheap money to continue

Mon Nov 9, 2009 5:23pm GMT
 
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* G20 pledge to keep aid flowing until recovery reassured

* Kraft in formal takeover Cadbury bid, terms unchanged

* GE, Comcast see $30 bln valuation on NBC-Comcast JV

* Dow up 1.6 pct, S&P up 1.6 pct, Nasdaq up 1.5 pct * For up-to-the-minute market news, click [STXNEWS/US] (Updates to midday, changes byline)

By Edward Krudy

NEW YORK, Nov 9 (Reuters) - U.S. stocks jumped on Monday, extending gains from the previous week, on renewed risk-taking sentiment after the Group of 20 pledged to keep economic stimulus in place until a recovery was assured.

Corporate mergers and acquisitions also boosted the market, with General Electric Co (GE.N) gaining 3.4 percent to $15.85 after a source said GE and Comcast Corp (CMCSA.O) agreed on a valuation of around $30 billion for a joint venture between NBC Universal and Comcast. For details, see [ID:nN08209497]

G20 finance ministers and central bankers agreed over the weekend to keep government aid flowing, boosting global stocks while pressuring the dollar as high-yielding and commodity-linked currencies benefited. [ID:nLQ516726] and [ID:nL9362990]  Continued...

 

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