![]() ![]() With the S&P 500 up 5 percent in December, some technical analysts say the market is due for a pullback before the year’s end. Mergers and acquisitions are up for the first full year since 2007 and may mark the start of a new, multiyear M&A cycle, with emerging economies accounting for a bigger share of global dealmaking, according to Thomson Reuters data. KRX rose 0.7 percent and has risen more than 13 percent this year, including a gain of more than 12 percent in December alone despite continued debt woes from European banks. Peer regional bank Ke圜orp KEY.N climbed 3.2 percent to $8.35 while Regions Financial RF.N added 3.4 percent to $6.34. Regional banks traded higher after Canada's Bank of Montreal BMO.TO agreed to buy Marshall & Ilsley Corp MI.N for $4.1 billion, sending the stock up 18 percent to $6.84. Oracle gained 5.5 percent to $31.94 while U.S.-listed shares of RIM were up 3.4 percent to $61.23. Shares of both Oracle Corp ORCL.O and Research in Motion RIMM.O RIM.TO rallied a day after they posted strong quarterly results. “Unless that support won’t be there, I think investors will in general be able to shake off the news and find positives, like the tech results,” he added. That’s why equity markets aren’t reacting significantly negatively to the news,” said Michael Gault, a senior portfolio strategist at the New York-based Weiser Capital Management, which has about $150 million in assets under management. “There are more shoes to drop in Europe, but precedent has been set to help these countries. shares not directly linked to the Irish situation were limited. ![]() ![]() U.S.-listed shares of Allied Irish Bank AIB.N fell 3.9 percent to $1.24 while Barclays BCS.N dropped 2.7 percent to $16.15. Euro zone leaders have agreed on how to resolve debt crises from 2013, but failed to reassure markets about what they will do in the short term. Moody’s downgraded Ireland’s ratings by five notches, hitting European bank shares hard. NEW YORK, Dec 17 (Reuters) - The S&P 500 and Dow were slightly lower on Friday amid renewed concerns over euro zone debt, but strong results in the tech sector helped keep the Nasdaq in positive territory. ![]()
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