Shares of banks and other financial institutions rallied amid signs that the deal market is heating up.
Freight giant United Parcel Service, manufacturer Sonoco and uranium firm Paladin Energy are among the corporations which divulged merger plans over the weekend. The flow of merger-and-acquisition deals is closely watched because of how lucrative the M&A business is for investment banks, but also because such activity typically reflects a rosy view of market and economic conditions among major corporate and Wall Street players.
Even as the stock market recovered in the last 12 months, there has been something of a deal drought.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-24-24 1742ET
