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The Independent Online
NEW YORK

THE DOW JONES climbed 51 points to 11,032 by midday, driven by technology stocks, with IBM rising 1.5 per cent in heavy trading. The Nasdaq rose 1 per cent to 2,528, shaking off fears about rising interest rates, as the yield on the benchmark 30-year Treasury bond recovered a little, easing worries over company valuations. The T-bond was up 15/32, with the yield easing slightly to 5.79 per cent.

Reports of a possible merger with Texaco saw the oil company Chevron climb $1.13 to $95.88.

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