NASDAQ has gone ahead to buy the Nordic stock Exchange operator OMX AB and to buy out its outstanding shares. NASDAQ has bought OMX at $3.67billion. This news comes after NASDAQ fail to buy out the London Stock Exchange.
The market was affected by the news, that the Fed. might not afterall cut the rates. But there were mixed responses, with the housing sector picking up a bit. All the ten major sectors lost ground after the disappointing news on the rate, the worst hit was that of the ‘utility’ sector.
The positive side of things is the NASDAQ OMX group, this agreeement could lead to the largest global network of exchanges and exchange of customers.