Overnight:
Nov. 5 (Bloomberg) -- Qatar dropped its 10.5 billion-pound ($21.9 billion) bid for J Sainsbury Plc after ``deterioration'' in the credit markets and demands by the U.K. supermarket chain's pension fund made the deal too expensive.
This is not what the markets wanted to hear. After a year of merger mania, it looks like the party is over. Overnight futures are getting pummeled and we could see a retest for NQ of last week's lows, which would also be weekly S1 at 2191.75.
Nov. 5 (Bloomberg) -- Qatar dropped its 10.5 billion-pound ($21.9 billion) bid for J Sainsbury Plc after ``deterioration'' in the credit markets and demands by the U.K. supermarket chain's pension fund made the deal too expensive.
This is not what the markets wanted to hear. After a year of merger mania, it looks like the party is over. Overnight futures are getting pummeled and we could see a retest for NQ of last week's lows, which would also be weekly S1 at 2191.75.
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on Monday, November 05, 2007 at 11/05/2007 02:58:00 AM.
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