Big US companies bought a record amount of their own shares in February, pushing overall stock purchases above the $1tn mark for the first time since the equity markets started to rebound in 2009.
Companies including Home Depot, Time Warner, General Electric and 3M bought back a combined $118bn worth of stock last month, double the amount purchased in the same period of 2012, according to data compiled by Birinyi Associates.
The boom comes after companies rushed to buy back shares late in 2012 ahead of changes to US tax laws following fiscal cliff negotiations in Washington, which led to a slow start for repurchases in January.
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