Shares of banks and other financial institutions rose amid deal activity.
Fairstone Bank of Canada entered an agreement to buy Laurentian Bank of Canada for about $1.36 billion, a deal which comes as the latter accelerates its shift toward a specialty commercial bank.
In the telecom sector, bankers are awaiting a response from Warner Bros Discovery following a second round of bidding for the media firm.
"It's been a good year for deals," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital. "It's been across sectors; we've seen it within regional banks, industrial manufacturers, seen it within technology," Marshall said.
A plunge in the price of bitcoin had weighed on risk appetite on Monday, and the cryptocurrency's rebound revived investors' appetite for speculation Tuesday.
Canadian lender Bank of Nova Scotia forecast earnings growth in the coming year despite the lingering uncertainty brought on by U.S. trade policy, with capital and liquidity measures expected to remain solid.
Startup Kalshi, one of the biggest players in popular predictions markets, raised $1 billion at an $11 billion valuation, in its third round of capital funding this year.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-02-25 1737ET
