Sweden's OMX Gains, Nasdaq Drops on Merger

Spread bets on Sweden's OMX and on the Nasdaq stock index should consider that the two will be merging. Nasdaq, though unsuccessful in its bid for the London Stock Exchange, has succeeded in purchasing the Sweden's OMX. Bloomberg reports on the merger of these world stock indices:

``Nasdaq has been able to snatch victory from the jaws of defeat,'' said Octavio Marenzi, CEO of Celent LLC, a financial research and consulting firm in Boston. ``The fit between OMX and Nasdaq is a comfortable one with both organizations being technology-driven firms.''

OMX shares jumped 20 kronor, or 11 percent, to 200 kronor in Stockholm, giving the company a market value of 24.1 billion kronor. Nasdaq shares fell $1.30, or 3.8 percent, to $32.68 at 9:39 a.m. in New York.