Halliburton shares rose to highest level in 3 yrs after Bush re-selection

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http://news.yahoo.com/news?tmpl=story&cid=568&u=/nm/20041103/bs_nm/energy_halliburton_dc&printer=1

HOUSTON (Reuters) - Shares in problem-plagued Halliburton Co. rose to their highest level in more than three years on Wednesday, carried by a rally in oil-related stocks after President Bush's re-election.

Halliburton, whose KBR engineering and construction unit is the largest private contractor in Iraq responsible for everything from preparing meals for U.S. troops to repairing Iraq's oil infrastructure, saw its shares jump more than seven percent to their highest mark since June 2001.

The company, headed by Vice President Dick Cheney from 1995 to 2000, had drawn criticism from Senator John Kerry and other Democrats during the election campaign because of the no-bid contracts it received for much of the Iraqi work, especially after military auditors found evidence of possible overcharging for some work.

Halliburton executives have said previously they expected criticism to die down after the election and that the company's share price, which trades at a discount to its peers such as Schlumberger and Baker Hughes Inc. would rebound.