By Triangle Business Journal

A report that Duke Energy Corp. and Progress Energy Inc. have started preliminary merger talks has apparently sent Progress stock trading higher.

The report was first made Thursday on financial-reporting site It was picked up by Bloomberg the same day and sent Progress stock prices up sharply at the end of the day.

The stock had been trading between $42.60 and $42.80 most of the day Thursday. It spiked to $44.17 late and settled at $43.90 at the close.

It was trading above $44 by mid-afternoon Friday.

Neither Charlotte-based Duke (NYSE: DUK) nor Raleigh-based Progress (NYSE: PGN) would comment on the report. ⿿We don⿿t comment on any market speculation,⿝ said Progress spokesman Mike Hughes.

Copyright 2011 American City Business Journals
Copyright 2010