STOCKS NEWS EUROPE-LSE jumps on TMX purchase plan
Shares in London Stock Exchange (LSE.L) jump 9 percent and reach their highest since October 2008 on news that it is set to buy TMX Group (X.TO) the owmer of the Toronto Stock Exchange, with analysts saying it looks to be a good strategic move.
"This deal comes against the backdrop of consolidation in world exchanges and represents the first strategic move by (LSE chief executive) Xavier Rolet and creates a company with a combined market capitialisation of 3.7 billion pounds ($5.95 billion)," Shore Capital says in a note.
"The key benefit is the creation of a global exchange with a strong presence in natural resources and emerging markets and as such we feel it is a positive development for the LSE."
TMX shares in Frankfurt XQ.F trade 2.8 percent higher.
For more on this story, please click on [ID:nLDE71808S]
Reuters Messaging rm://email@example.com
- Tweet this
- Share this
- Digg this
- Turkish women laugh online to protest deputy PM's remarks
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Glazers to raise $150 million by cutting Manchester United stake
- Shi'ite militia hangs up 15 executed Sunnis in Iraqi square
- Insight - European regulators training sights on Google's mobile software