(Refiles to fix typographical error in paragraph 3 by removing
extraneous letter 't' from ETF's name)
* Indexes extend rally from Friday on signs of easing of
* Kinder Morgan shares surge 9 pct after deal
* Russia sending humanitarian convoy to Ukraine
* Dow up 0.1 pct; S&P 500 up 0.3 pct; Nasdaq up 0.7 pct
(Updates to close)
By Akane Otani
NEW YORK, Aug 11 U.S. stocks ended higher on
Monday, extending the rally from Friday as investors hoped that
Russia's move to send humanitarian aid to Ukraine would ease
tensions between the two countries.
Earlier in the day, NATO chief Anders Fogh Rasmussen warned
of a "high probability" that Russia, using the guise of a
humanitarian mission, could intervene militarily in Ukraine.
Ukraine has also said that, contrary to Russian
reports of de-escalating, Russia has massed 45,000 troops on its
Investors did not seem fazed by the reports. The Market
Vectors Russia Exchange-Traded Fund, which gives
investors exposure to publicly traded companies based in Russia,
gained 1.43 percent.
"It seems like U.S. investors who are taking a risk on
Russian equities don't deem NATO's statement as a legitimate
concern," said Mark Luschini, chief investment strategist at
Janney Montgomery Scott in Philadelphia.
Investors with money in Russian equities seem to be "taking
Russia's actions at face value, and not interpreting it as a
cover for military action," he said.
Gains were broad, with eight of the S&P's 10 primary sector
indexes ending higher for the day. Consumer staples shares
posted the highest increases as the sector's index
gained 0.8 percent, while energy and utilities shares dragged.
Stocks also climbed after the United States continued air
strikes against Islamic State militants in northern Iraq over
the weekend and as Israeli and Palestinian negotiators resumed
indirect talks mediated by Egypt on Monday.
The Dow Jones industrial average rose 16.05 points,
or 0.10 percent, to end at 16,569.98, still below its close at
the end of 2013. The S&P 500 gained 5.33 points, or 0.28
percent, to finish at 1,936.92. The Nasdaq Composite
added 30.43 points, or 0.70 percent, to close at 4,401.33.
Shares of Kinder Morgan Inc, the biggest U.S.
pipeline company, jumped 9 percent to $39.37. The stock was the
S&P 500's biggest percentage gainer in Monday's session after
the company said on Sunday that it would put all its publicly
traded units under one roof in a $70 billion deal. Kinder Morgan
ranked No. 3 among S&P 500 components in contributing to the
benchmark index's gain for the day, in terms of index
The shares of the company's other units - Kinder Morgan
Partners, Kinder Morgan Management and El Paso
Pipeline Partners - also rallied. The JP Morgan Alerian
MLP exchange-traded note, which tracks energy master
limited partnerships, rose 3.6 percent.
Investors snapped up shares of companies developing
potential treatments for the often fatal Ebola virus disease
amid growing calls to expedite research funding and drug
approvals. U.S.-listed shares of Canada-based
Tekmira Pharmaceuticals Corp soared 15.0 percent to
$23.80. The stock of U.S.-based Sarepta Therapeutics Inc
gained 7.4 percent to $22.66.
Priceline Group Inc shares rose 2.2 percent to
$1,309.28 after the online travel agency reported quarterly
revenue rose 26 percent. More than 2 million
shares were traded, almost triple the 50-day moving average
volume of 724,115 shares.
The stock of Chiquita Brands International Inc
surged 30.2 percent to $13.10 in its biggest one-day advance
since its trading debut in 2002. Juice maker Cutrale Group and
Brazilian investment firm Safra Group offered to buy Chiquita
for $13 per share in cash.
About 4.7 billion shares traded on all U.S. platforms,
according to BATS exchange data, compared with the five-day
average of 6.1 billion.
(Editing by Nick Zieminski and Jan Paschal)