Bloomberg quoted Nisu Harajchi from N1 Asset Management as saying "I'd want to stay away from the entire equity market ... if you look at the U.S. economy, housing market, and these newly created problems, which is the credit crisis, this is a big thing, taking the entire financial industry down.''
InBev will indeed acquire U.S. alcoholic beverage maker Anheuser-Busch for $52 billion after a month of court battles and what was appearing to be the start of a hostile takeover. This puts the 156 year-old American icon under Belgian control for the first time ever.
Below is a foreign market review for this morning:
European markets:
- The Dow Jones Euro Stoxx 50 Pr: at 3,227.57, up 39.79 (1.24%)
- The FTSE 100 Index: at 5,360.70, up 99.10 (1.88%)
- The DAX 30: at 6,231.66, up 78.36 (1.27%)
- The S&P/MIB Index: at 27,893.00, up 217.00 (0.78%)
- Nikkei 225 Average: closed at 13,010.16, down 29.53 (-0.23)
- The S&P/ASX 200 Index: closed at 4,921.00, down 58.90 (-1.18%)
- Hang Seng Index: closed at 22,014.26, down 170.09 (-0.77%)
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
