Author: Elena Todorova
123jump.com
Last Update: 10:14 AM EDT May 31 2007
Wall Street opened in the positive on Thursday, as a multibillion-dollar takeover deal in the brokerage sector helped offset lower-than-expected economic growth. First-quarter growth was revised down to 0.6% from an initial estimate of 1.3%. The market welcomed news that Wachovia agreed to buy brokerage A.G. Edwards for $6.8 billion. In other news, Morgan Stanley bought Australia''s Investa Property Group for $3.9 billion.
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