US STOCKS-Wall St up on factory activity data, health care rally
* US Oct factory activity slows less than expected
* Visa drops after offer to buy Visa Europe, top drag on Dow
* Dyax soars after Shire offers to buy company
* Indexes up: Dow 0.55 pct, S&P 0.70 pct, Nasdaq 0.96 pct (Updates to early afternoon)
By Abhiram Nandakumar
Nov 2 (Reuters) - Wall Street was higher on Monday as data showed factory activity was beginning to stabilize in key countries and health care stocks rallied.
U.S. factory activity slowed in October but came in ahead of expectations, while two reports showed manufacturing in China shrank but at a slower pace.
In Europe, German manufacturing activity expanded, albeit at a slower clip.
"The global economy is on track for growth," said Ed Hyland, global investment specialist at J.P. Morgan Private Bank, adding that any fears about a recession, particularly in developed markets, were fading. Continuación...