US STOCKS-GE sparks broad Wall St rally; indexes post weekly gains

viernes 10 de abril de 2015 16:36 GYT
 

* GE set for $50 bln buyback plan; shares most active on NYSE

* Indexes post weekly gain; Dow, S&P up for 2nd straight week

* Focus expected to turn to earnings next week; banks on tap

* Indexes up: Dow 0.6 pct, S&P 0.5 pct, Nasdaq 0.4 pct (Updates to market close)

By Ryan Vlastelica

NEW YORK, April 10 (Reuters) - U.S. stocks ended a strong week with a broad rally on Friday as investors lauded GE's decision to divest most of its high-risk GE Capital business and repurchase up to $50 billion of its shares.

All 10 primary S&P 500 sectors ended up on the day but the S&P Industrials index, driven by gains in GE shares, was by far the best performer and rose 1.5 percent.

General Electric rose 10.8 percent to $28.51, hitting its highest level since September 2008 after it said there was potential to return more than $90 billion to investors through 2018.

Friday marked the biggest one-day jump for the stock, as well as the most active session, since March 2009. More than 351 million shares changed hands, making GE the most active name on the New York Stock Exchange by far. It was also the S&P 500's biggest percentage gainer.   Continuación...