The Dow Jones pushed ahead in early trade after its Labor Day recess, as the market reacted to Kraft's attempt to buy Cadbury.
America's blue chip index has added 35.29 points (0.37%) to 9476.56 at 3pm, despite a rejected offer from Kraft for Cadbury, which saw the chocolate firm's stock surge in London yesterday. Manufacturer General Electric Co has climbed 4.54% to $14.5 as it was raised to "overweight" at JP Morgan Chase & Co which touted the firm's potential for an "upside surprise". Alcoa Inc gained 2.87% to $12.53, while Caterpillar Inc added 2.1% to $47.06. However, Kraft Foods Inc has fallen 5.43% to $26.58 after announcing it will pursue a takeover of Cadbury following the rejection of its £10.2bn...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes