NEW YORK: US stocks cruised to fresh records for the second straight day on Monday amid a tech-sector mega-merger, while European stocks ended mixed.
Before trading began in New York, Broadcom launched a $130 billion unsolicited bid for rival chip manufacturer Qualcomm in a cash and stock offer that was 28 percent above Qualcomm's closing price on Friday.
That pushed the tech-rich Nasdaq up 0.3 percent, while shares in Broadcom and Qualcomm jumped more than one percent.
Crude prices hit a two-year high amid sweeping crackdown in oil-rich Saudi Arabia, which included the arrest of billionaire investor Prince Al-Waleed bin Talal.
A barrel of benchmark West Texas Intermediate crude for December delivery soared $1.71 to finish at $57.35. Oil shares also felt the impact, with Royal Dutch Shell and BP soaring more than two percent, and Chevron, ConocoPhillips and Exxon Mobil all rising sharply.
"The big story today is energy and the IT sector," Karl Haeling of LBBW told AFP, noting that the S&P energy index rose more than two percent.
"That's probably helping optimism over mergers and acquisitions."
Meanwhile, in London the FTSE 100 edged higher to reach a new record close.
However, in the eurozone both Frankfurt and Paris dipped despite the euro sliding against the dollar.
Market analyst David Madden at CMC Markets UK put it down to a lack of news.
"Volatility has been low and we have seen some small amounts of profit taking," he said.
"Stock markets have been strong in Europe lately and it appears the bulls are taking a breather today."
- Trump lashes out -
Asian stocks were largely flat Monday, as US President Donald Trump lashed out at "unfair" trade practices and China's central bank chief condemned excessive debt.
Trump began his marathon Asia tour in earnest Monday by criticizing trade relationships with Tokyo and Beijing, saying that close ally Japan had been "winning" for decades at the expense of the United States, and calling commerce with China "very unfair."
In particular, Trump's criticism of a "massive trade deficit" that "has to come down" prompted concern among Asian exporters.
Markets were already nervous over the prospect of an escalation in rhetoric -- or even further missile and nuclear tests -- from North Korea during the US president's Asian tour.
- Key figures around 2130 GMT -
New York - DOW: UP 0.1 percent at 23,548.42 (close)
New York - S&P 500: UP 0.3 percent at 2,591.13
New York - Nasdaq: UP 0.7 percent at 6,786.44 (close)
London - FTSE 100: UP 0.03 percent at 7,562.28 points (close)
Frankfurt - DAX 30: DOWN 0.07 percent at 13,468.79 (close)
Paris - CAC 40: DOWN 0.2 percent at 5,507.25 (close)
EURO STOXX 50: DOWN 0.2 percent at 3,683.74
New York - DOW: UP 0.06 percent at 23,552.98
Tokyo - Nikkei 225: FLAT at 22,548.35 (close)
Hong Kong - Hang Seng: FLAT at 28,596.80 (close)
Shanghai - Composite: UP 0.5 percent at 3,388.17 (close)
Euro/dollar: UP at $1.1614 from $1.1610 at 2100 GMT on Friday
Pound/dollar: UP at $1.3175 from $1.3073
Dollar/yen: DOWN at 113.71 yen from 114.05 yen
Oil - Brent North Sea: UP $1.61 at $63.68 a barrel
Oil - West Texas Intermediate: UP $1.71 to $57.35
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