Sweden's government will review a proposed $3.7 billion takeover of Nordic bourses owner OMX by Nasdaq over worries companies could be forced to operate under U.S. stock market rules, an official said on Wednesday.
Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.
The London Stock Exchange is to buy its Italian counterpart for 1.6 billion euros ($2.15 billion), the two exchanges confirmed in a statement on Saturday, the latest step in a global nsolidation of exchanges.
Borsa Italiana has backed a 1.6 billion euro ($2.14 billion) takeover by the London Stock Exchange, said a person close to the situation, bringing closer a deal that could boost the LSE's own bid defenses.
Stocks in Europe drifted Monday, boosted by strength in Asian markets, but volume will be low with many exchanges closed for a public holiday.
Dubai International Financial Centre (DIFC), the owner of the Dubai stock exchange, is mulling a rival bid to Nasdaq's agreed $3.7 billion takeover of Nordic markets owner OMX, the Sunday Times reported.
The Dow's record run hits a speed bump and the S&P 500 can't hold a new record high as worries about the economy and interest rates surface.
Stocks rose on Friday following two multibillion-dollar acquisitions, but the Dow and S&P snapped seven straight weeks of gains. "There's a little caution in the marketplace," said Bill Nichols, director of trading at Bear Stearns. "You've come a long way in a short time, so you can expect a little profit-taking over the next couple weeks."
The Nasdaq Stock Market agreed to buy Nordic stock exchange operator OMX for $3.67 billion Friday, as Nasdaq seeks to expand abroad following a series of rival stock market mergers.
The Nasdaq Stock Market plans to announce on Friday that it has agreed to buy Nordic bourse owner OMX as it expands beyond the U.S. market, according to sources familiar with the situation.
The London Stock Exchange Group's annual net profit rose 55% as hedge funds and specialist traders boosted the number of average daily trades, the bourse reported Wednesday.
Nordic bourse operator andtechnology firm OMX said on Thursday it was in cooperation talks with several exchanges, but added it had not received any bid.
Stocks look set to move higher at the opening, with the Dow catching some strength from Citigroup's restructuring moves and Alcoa's better-than-expected earnings report. European stocks are riding higher for a sixth day, and Tokyo was flat but other Asian markets were higher overnight.
The Nasdaq Stock Market is in talks to buy the Philadelphia Stock Exchange, the Wall Street Journal reports.
Good morning. Deborah Taft stays in the top position with a portfolio value of $2,187,663.68 for a gain of $2,000.00 or 0.09% from Thursday's action. Deborah was all in cash and received $2,000 in bonus bucks and has put the majority of her holdings into Elan Corp. plc (ELN) as of 3/22. (those bonus bucks from the trivia questions do add up!!)
"It's more company-specific news items than anything else," Tony Dwyer, equity market strategist at FTN Midwest Securities, said in an interview with CNBC.com. "You had a very near-term oversold market, you've had a back-and-forth tape over the last few days, so today evens it out."
The world's largest electronic stock exchange issued a disappointing 2007 earnings outlook on Tuesday, overshadowing strong quarterly earnings, which dragged its shares sharply lower.
The Nasdaq Stock Market , having failed in its $5.3 billion hostile takeover bid for the London Stock Exchange , is now seen scrambling to lay out a European strategy that will appease its shareholders and ensure that it won't be left behind as other major exchanges consolidate.
The Nasdaq Stock Market’s failure to take over the London Stock Exchange with a $5.3 billion hostile bid leaves it dangerously leveraged and in need of clear strategy to keep up with the other major exchanges, according to one LSE shareholder.
The Nasdaq Stock Market failed for the second time in a year to win control of the London Stock Exchange , revealing Saturday that its $5.3 billion hostile bid had been spurned by the British bourse's shareholders.