Wall St rallies on economic data, retail takeover bid

By Elysse Morgan

Overnight, Dollar General unveiled a $US9. 7 billion bid for rival chain Family Dollar, which trumps the $US8. 5 billion offer that Dollar Tree made last month for Family Dollar.

The local share market was set to rise at the beginning of trade; at 8:15am (AEST) the ASX SPI 200 was 0. 5 per cent higher at 5,554.

Wall Street rallied overnight as positive data, a major takeover tussle and easing tensions between Russia and Ukraine had traders bidding up.

News that diplomats from Russia and Ukraine discussed a possible truce eased market concerns.

Oil prices moved in opposite directions - West Texas crude oil eased back to $US96. 39 a barrel but, in Singapore, Tapis was slightly higher at $US102. 86 a barrel.

Read more here: ABC


You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>