US STOCKS-Wall St bounces back from recent losses; deals help

lunes 30 de marzo de 2015 14:47 GYT
 

* M&A deal lifts sentiment; biotech coming off big weekly decline

* UnitedHealth unit to buy Catamaran; Horizon to buy Hyperion

* Indexes up: Dow 1.6 pct, S&P 1.3 pct, Nasdaq 1.1 pct (Updates to afternoon trading)

By Caroline Valetkevitch

NEW YORK, March 30 (Reuters) - U.S. stocks climbed more than 1 percent on Monday, rebounding from a sharp decline last week, helped by deal activity, especially in healthcare.

Major indexes each lost more than 2 percent last week. All ten primary S&P 500 sectors rose on the day, with S&P energy , up 1.9 percent and leading the way higher.

Also boosting investors' risk appetite, Chinese stocks surged to seven-year highs, helped by hopes for more infrastructure spending and monetary policy easing.

Among the deal news, OptumRx Corp, a unit of UnitedHealth Group, agreed to buy pharmacy benefit manager Catamaran Corp in a deal worth $12.78 billion. Shares of UnitedHealth, a Dow component, rose 2.7 percent to $121.17 while U.S. shares of Catamaran added 24 percent to $60.12.

Trading could continue to be volatile ahead of earnings season, which will start in earnest in mid-April, as well as before the March payroll report on Friday. Stock markets will be closed for the Good Friday holiday, leaving investors unable to trade on the jobs data until the following week.   Continuación...