Stocks gained on Monday, buoyed by Citigroup Inc., which said it plans to sell its insurance unit to MetLife Inc., and relief that elections in Iraq went off with less bloodshed than expected. Life insurer MetLife said it will buy Citigroup's Travelers Life and Annuity Co. for $11.5 billion. Citigroup rose 1.6 percent to $49.13, while MetLife fell 32 cents to $39.62. The Dow Jones industrial average was up 72.46 points, or 0.69 percent, at 10,499.66. The Standard & Poor's 500 Index was up 9.73 points, or 0.83 percent, at 1,181.09. The technology-laced Nasdaq Composite Index was up 25.89 points, or 1.27 percent, at 2,061.72. Marsh & McLennan Cos. rose 4 percent to $32.37 after the company said it will pay $850 million to settle charges with the New York Attorney General's office that it conspired with insurers to rig bids. The settlement raised hopes the company could put the scandal behind it. The Chicago Purchasing Management Index rose unexpectedly in January to 62.4, showing that business activity in the U.S. Midwest expanded in January for the 21st straight month and at a faster rate than expected. --More 2323 Local Time 2023 GMT
