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BUSINESSTuesday 29 March 2016
Stocks end mixed in quiet holiday trading
MARLEY JAY holiday. Trader Gordon Charlop works on the floor of the New York Stock Exchange, Monday, March 28,
AP Markets Writer The Dow Jones industrial 2016. Stocks got a little help from an international hotel deal and dueling superheroes Monday,
NEW YORK (AP) — Stocks average rose 19.66 points, but they could only wobble to a split finish in a quiet day of trading.
got a little help from an in- or 0.1 percent, to 17,535.39.
ternational hotel deal and The Standard & Poor’s 500 (AP Photo/Richard Drew)
dueling superheroes Mon- index added 1.11 points to
day, but they could only 2,037.05, ending a three- pect Marriott to give up on do not overpay and collect panies, Stevenson said.
wobble to a split finish in a day losing streak. its pursuit of Starwood. the $470-ish million they get Starwood and Marriott
quiet day of trading. The Nasdaq composite in- “They were probably at the from the breakup fee and would have been the larg-
Hotel chains Starwood and dex lost 6.72 points, or 0.1 limit of what they wanted walk away from this thing.” est hotel chain in the world,
Marriott climbed after a percent, to 4,766.79. Stocks to pay,” she said. “Marriott If Anbang does buy Star- and she said they could
Chinese insurance com- have flagged over the last stock is up today because wood, that will be good have “crushed” smaller
pany made another offer few days after a five-week the market is assuming they news for smaller hotel com- competitors.
to buy Starwood. Media rally. The bidding for the
giant Time Warner rose af- Starwood chain may have
ter “Batman v Superman: reached an end as a group
Dawn of Justice” had a su- of investors led by China’s
per opening weekend. Anbang Insurance Group
Stocks flipped between offered to buy the com-
small gains and losses for pany for $15 billion. Marriott
most of the day. Oil prices agreed to buy Starwood
slipped and energy com- for $12.2 billion last year
panies took modest losses. and recently raised that
Mining and metals compa- offer to $14.41 billion. Star-
nies traded slightly higher. wood stock added $1.62,
Monday was the slowest or 2 percent, to $83.75. It’s
trading day of 2016 for U.S. up 19 percent in the last
markets, and European ex- two weeks.
changes were closed for Marriott rose $2.70, or 3.9
the Easter holiday. Trad- percent, to $71.34. JMP
ing was closed in the U.S. Securities analyst Whitney
Friday for the Good Friday Stevenson said investors ex-
