Around the World's Markets: New York

STOCKS rose, led by America Online (AOL) after the Internet provider said it would develop a television unit. The Dow rose 18.90 points, 0.2 per cent, to 11,026.15. The S&P 500 rose 15.31, 1.1 per cent, to 1,355.61. The Nasdaq Composite climbed 40.27, 1.6 per cent, to 2,566.66.

AOL, the most active stock, gained $11 1/16 to $139 7/16 although it had lost 23 per cent since 6 April. It will develop an Internet TV service with Philips, Network Computer, Hughes and DirecTV.