U.S. Stocks Rise for 7th Week on Stake Disclosures, Record Takeover Pace

(Bloomberg) -- U.S. stocks extended their longest
stretch of weekly gains since 2004 after some of the world's most
successful investors boosted their holdings in banks, drugmakers
and railroads and a record pace of takeovers was extended.

Citigroup Inc. led the Dow Jones Industrial Average to its
24th record this year after billionaire investor Edward Lampert
disclosed an $800 million stake in the largest U.S. bank. Health-
care shares rallied after Warren Buffett's Berkshire Hathaway
Inc. almost doubled its investment in Johnson & Johnson. Carl
Icahn joined Buffett in acquiring railroad shares by building a
position in CSX Corp., the third-largest U.S. railroad.


Read more at Bloomberg Stocks News

G8 communique says world economy good

(Reuters) - Amid efforts to combat global warming, the communique cited nuclear energy as one path to pursue and it repeated that high and volatile oil prices posed a continued threat to the world economy that required vigilance.




In its assessment of the economy, the communique made no reference to currency exchange rates.


Read more at Reuters.com Business News

US stocks to fly on M&A; oil lurks

(Reuters) - If bulls have their way, U.S. stocks will extend their streak of gains next week with another wave of takeovers expected and worries about a housing fallout diminishing.

But rocketing crude oil prices along with disappointing outlooks from major retailers, could spoil the party.


Read more at Reuters Africa