Mining companies and a handful of acquisitions were in focus Monday on an otherwise quiet day on the stock market. Newmont Mining and Cliffs Natural Resources were among the biggest gainers in the Standard & Poor's 500 index after the price of gold and silver advanced. Gold rose for a fourth day on reports of increased demand from China. Silver gained the most in three weeks.
A new bid to buy a legendary piano maker, Steinway could be music to the ears of its shareholders. Steinway Musical Instruments Inc. said that an investment firm has offered to pay $38 per share, or about $477 million, for the company. That tops an earlier bid of $438 million, from Kohlberg & Co.