Friday, January 12, 2007

ASX Jump[s on Rumour of NYSE takeover

ASX Limited (ASX:ASX) says it has no information to support speculation that it may join the wave of consolidation among global stock exchanges.

On 11 December 2007, the group's stock gained $A1.60 to close at $A37.45. That followed news that the New York Stock Exchange and Goldman Sachs are leading a consortium that aims to acquire a 20 per cent stake in the National Stock Exchange of India.

In February, ASX Limited will provide a progress report on the Australian exchange's merger with the Sydney Futures Exchange.

Why people even thought the that NYSE would buy into the ASX is beyond me. It is the first Asian region purchase by the company and I am sure they are not going to want to spread themselves thin. Seems that people are jumping at anything these days for a stock to jump.

Good Luck Investing.

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