Around the World's Markets: New York

US STOCKS rose as Yahoo!'s acquisition of Broadcast.com spurred expectations of consolidation in the Internet industry. SBC Communications and other telephone companies gained on optimism that the growth of the Internet will boost demand for data transmission.

The Dow Jones gained 46.35, or 0.5 per cent, to 9,832.51 after being little changed for much of the day. The Nasdaq index climbed 32.31, or 1.3 per cent, to 2,493.71.