Global stocks rallied as German Chancellor Angela Merkel and French President Nicolas Sarkozy said yesterday they will deliver a plan to recapitalize European banks and address the Greek debt crisis by the Nov. 3 Group of 20 summit. Belgium agreed to buy the local consumer-lending unit of Dexia SA (DEXB), ending a 15-year cross-border experiment with France.
Bank of America added 3.4 percent to $6.10, while Morgan Stanley rose 3.2 percent to $14.69. Freeport rallied 3 percent to $35.02. ConocoPhillips climbed 2.3 percent to $65.64. Caterpillar increased 2 percent to $77. Ford advanced 2.4 percent to $10.95. |