By Steve Gelsi
NEW YORK (MarketWatch) -- Energy stocks jumped out of the gate on Monday following news of a blockbuster merger in the business, with Exxon Mobil (XOM 70.86, -1.97, -2.70%) poised to buy XTO Energy (XTO 48.74, +7.25, +17.47%) in a deal valued at $41 billion. The NYSE Arca Oil Index (XOI 1,059, +10.52, +1.00%) rose 0.8% to 1,057. The NYSE Arca Natural Gas Index (XNG 521.96, +20.95, +4.18%) jumped 4.2% to 522. The Philadelphia Oil Service Index (OSX 188.39, +2.80, +1.51%) rose 1.5% to 188. Exxon Mobil (XOM 70.86, -1.97, -2.70%) dipped 2.5% to $71.04. XTO Energy (XTO 48.74, +7.25, +17.47%) vaulted 18% to $48.94. |
