Shares of banks and other financial institutions rose amid deal activity.
A slew of multibillion dollar mergers unveiled in the last month in tech, telecom, finance and other sectors should bolster investment-banking profits.
Prudential PLC shares rose after the company's Indian joint venture ICICI Prudential Asset Management filed for an initial public offering in the Asian nation's hot market.
French lender BNP Paribas will increase its stake in Belgian insurance group Ageas in a deal valued at about $3.49 billion.
One of Warren Buffett's top lieutenants, Todd Combs, Berkshire Hathaway's investment manager and chief executive of its Geico insurance unit, is stepping down to join JPMorgan Chase.
Combs will lead the bank's recently launched security and resiliency initiative. The initiative aims to deploy $1.5 trillion over 10 years in direct equity and venture capital investments "to help select companies primarily in the United States enhance their growth, spur innovation, and accelerate strategic manufacturing," according to JPMorgan's Web site.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
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