US stocks rallied for a third day today as investors saw Google's offer for Motorola Mobility as a signal to jump back in after weeks of sharp selling.
The Dow Jones industrial average shot up 213.88 points, or 1.90 per cent, to end unofficially at 11,482.90.
The Standard & Poor's 500 Index gained 25.68 points, or 2.18 per cent, to finish unofficialy at 1,204.49.
The Nasdaq Composite Index climbed 47.22 points, or 1.88 per cent, to close unofficially at 2,555.20.
Google has agreed to buy Motorola Mobility Holdings for about $12.5 billion, with the firm gaining wireless patents.
Motorola shareholders will get $40 a share in cash, the companies said in a statement today. That's 63 per cent more than Motorola Mobility's closing price on the New York Stock Exchange on August 12th. Both boards have approved the deal.
Agencies