US STOCKS-Wall St rallies for 3rd day, healing Brexit wounds

jueves 30 de junio de 2016 14:43 GYT
 

* Bank of England's Carney sees need for summer stimulus

* Consumer staples lead; Hershey jumps on Mondelez bid

* Indexes up: Dow 1.24 pct, S&P 1.21 pct, Nasdaq 1.05 pct (Updates to late afternoon)

By Lewis Krauskopf

June 30 (Reuters) - Wall Street posted solid gains for a third straight day on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey.

The three U.S. indexes were each up at least 1 percent, and have erased the bulk of their losses in the wake of Britain's shock vote a week ago to leave the European Union that set off the worst two-day decline for Wall Street in 10 months.

In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer.

"We're reversing the 'Brexit' as it becomes evident that it was more of a political vote and decision than an economic decision," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Stocks also might be benefiting as portfolio managers adjust their holdings at the end of the quarter, Hellwig said.   Continuación...