SGX/ASX: ASX shares jumped 4.5% this morning to A$38.35, hitting a 2-mth high of A$38.60 after offshore moves toward further consolidation in the industry….
LSE rose 3.1% and TMX Group rose 6.4% after the LSE agreed to merge with the Toronto Stock Exchange owner. NYSE Euronext (NYX) shares rose 14% as Deutsche Boerse said it's in advanced merger talks with the US exchange….
Offshore consolidation of exchanges is fuelling hopes the Australian government will approve the proposed merger between Singapore Exchange and ASX. ASX chart resistance at A$39.05 stands in the way of a test of the October 2010 peak at A$43.09.
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