Around the World's Markets; NEW YORK

US STOCKS surged yesterday in a powerful, broad-based rally, as investors focused on big-name companies and bet that Fed Reserve chairman Alan Greenspan will not say anything in a key speech this week to spoil the party. A flurry of mergers in the energy, aerospace and telecommunications industries also boosted investor confidence.

The Dow Jones closed up 212.73 points, or 2.28 per cent, at 9,552.68 - its third-biggest point gain of the year.