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U.S. stocks rose, sending the Dow Jones Industrial Average above its highest closing level since May 2008, as Greece made progress on measures to secure aid.
Greek Prime Minister Lucas Papademos will issue a statement tonight at the conclusion of a meeting with the three leaders of political parties on measures and policies Greece has agreed in return for a second financing package, a spokeswoman at the premier’s office in Athens said. The spokeswoman said the Cabinet would meet tomorrow at around midday to approve the accord and that a meeting of euro area finance ministers was likely to be held Feb. 9 on the bailout agreement.
Dow 12,885.58 +40.45 +0.31%, Nasdaq 2,908.52 +6.53 +0.23%, S&P 500 1,347.84 +3.51 +0.26%
Coca-Cola added 1.2 percent to $68.83. Chief Executive Officer Muhtar Kent is expanding sales of beverages in Asia with global marketing campaigns and products such as its Minute Maid Pulpy juice drink. Fourth-quarter sales volume climbed 5 percent in Japan and 10 percent in China.
Yum rallied 2.5 percent to $64.75. The company, with about 18,800 restaurants outside the U.S., said fourth-quarter sales at stores open at least 12 months grew 21 percent in China. Yum said it opened a record 656 stores last year in the Asian nation, where it gets more than 40 percent of its revenue.
Walgreen erased 1.8 percent to $33.66 after being cut to ‘‘sell’’ from ‘‘neutral’’ at Citigroup.
Becton Dickinson slid 3.7 percent to $77.53. The company cut its forecast for 2012 to no more than $5.70 a share, below an earlier projection of as much as $5.85 and the average analyst estimate of $5.80.
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