US STOCKS-Dow hits intraday high, boosted by Citi, deals

lunes 14 de julio de 2014 14:42 GYT

* Citigroup to pay $7 bln to settle U.S. mortgage probe

* Shire to accept Abbvie takeover offer

* Indexes up: Dow 0.7 pct, S&P 0.5 pct, Nasdaq 0.6 pct (Updates to afternoon session)

By Angela Moon

NEW YORK, July 14 (Reuters) - U.S. stocks rose on Monday with the Dow Jones industrial average hitting a new intraday high, lifted by better than expected earnings from Citigroup and more deals in the healthcare space.

Boosting investors' confidence that the market is still attractive to invest, Shire Plc, which sells drugs for rare diseases, succumbed to an increased 31 billion pound ($53 billion) takeover offer from Abbvie Inc on Monday.

U.S.-listed shares of Shire rose 2.2 percent to $254.63 while Abbvie shares fell 0.5 percent to $54.71.

Generic drugmaker Mylan Inc said it would buy Abbott Laboratories' specialty and branded generics business outside the United States in an all-stock transaction valued at about $5.3 billion. Mylan shares advanced 2.2 percent to $51.30 while Abbott shares rose 0.8 percent to $41.62.

Citigroup Inc shares rose 3.2 percent to $48.49 as one of the top boosts to the S&P 500 after it posted second-quarter earnings and agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities. The S&P financial index gained 0.6 percent.   Continuación...