11:20 AM New York – U.S. stocks traded higher as crude oil prices gained and commodities edged higher. Vodafone agreed to sell its stake in the second largest French mobile telecom operator for $11.3 billion and Pfizer agreed to sell its capsules making unit for $2.4 billion.

U.S. stocks traded higher in the early trading and crude oil prices increased above $108 a barrel in New York trading. Metals and commodities generally edged higher on a day when no new economic reports are anticipated.

Oil took a center stage on a day when deals were in the news. Crude oil futures for immediate month delivery increased to $108.56 and retained a positive bias as rebels struggle to hold on to two key cities in Libya. Libya exports nearly 1.6 million barrels a day or less than 2% of the world oil exports.

Deals drove market trading in Europe and Asia. The euro traded at $1.42 and gold and silver traded firm.

Pfizer agreed to sell its capsule making business for $2.4 billion to a private equity operator Kohlberg Kravis Roberts & Co.

China controlled Mimmetals Resources launched a C$7 a share offer for Perth, Australia based Equinox Minerals. The bid values the copper miner at C$6.3 billion and is lower than market expectations.

Rhodia soared 48.6% to 31.29 euros after it agreed to a deal with Belgium based Solvay for 31.60 euros a share. Solvay increased 2.6% in Brussels trading. The offer values the company at 3.4 billion euros.

Qiagen gained 0.6% after it announced a deal with Australia based Cellestis Limited for $350 million that will give the company a control of its early tuberculosis detection diagnostic and monitoring technology.

Vivendi increased 0.8% to 20.67 euros after it agreed to acquire 44% stake in the second largest mobile company in France, SFR for 7.9 billion euros from the UK based Vodafone.

Stock Movers

Southwest Airlines Co. declined 3% to $12.30 and the company said it will cancel 100 more flights today after the National Transportation Safety Board discovered “small cracks” in three 737-300 jets.

Vivus Inc increased 11% to $6.99 after the company said its experimental drug to lower blood pressure showed some positive results after two years of use.

Pfizer Inc added 1% to $20.45 after the company said it sold its Capusgel business to private equity manager Kohlberg Kravis Roberts & Co for $2.38 billion in cash.

Epicor Software Corp soared 11% to $12.45 after the company said it agreed to be acquired by private equity funds managed by Apax Partners for $12.50 a share.

Ambassords International Inc plunged 78% to 50 cents after the cruise line operator filed for a bankruptcy protection.