Aetna Buying Coventry Health for $7.3B
FBN’s Dagen McDowell breaks down the stories moving the markets around the world.
- Duration 7:59
- Date Aug 20, 2012
FBN’s Dagen McDowell breaks down the stories moving the markets around the world.
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Meantime let's check on your markets around the globe first -- -- Asia flat across the board for the most part the Nikkei managing to eke out a very small gains Singapore's markets.
Close by the way over to Europe we've had mixed markets as well the FTSE 100 in England is still down almost a quarter of a percent right now.
The -- Iran and France and the Dax in Germany hang on to some gains.
It's been six straight weeks of gains.
Here in the US for our markets and futures are heading slightly higher this morning of one point on the Dow futures.
And then over to commodities but oil and gold are lower but not by much oil holding right at night 99 a barrel.
For more on -- European markets let's go live to London where we're joined by chief market analyst for -- -- UK James Hughes.
James always good to see -- this time of day.
Is the biggest event of the week -- point two is the meeting between on -- -- -- along later in the week and what about that news over the weekend it was reported by der Spiegel about some considerations from the European Central Bank.
Yeah I mean.
The eurozone is -- and it really takes and decides he did again this week but I think.
What we've had in terms of -- has been really pretty direction it's pretty quiet sort of couple weeks -- that's over time of the year what things on necessarily.
Moving that quickly and and that's why we getting.
-- focus on the east these stories around the eurozone.
We don't necessarily massive storage capacity on it to me if you look at that it speaks this meeting this week between Angola Merkel and fronts on on is not necessarily.
-- anything too different of course it has some meaning meetings.
How to -- crisis about the Euro zone where we've had absolutely nothing come out and -- I'm shall we are looking to with exactly the same sort of thing this week where the two roommate but we want to hear anything Kong Korea any -- has about half how to solve any of the problems that we've got.
And I think -- in the hope home that is because we don't know -- so these problems I think nice via -- a big issue that that we have in this whole eurozone.
And the market as -- in general because of course we look to these.
-- CB and we look to the eurozone and -- it doesn't matter what else is going on around the world.
We looked at least -- to really give us a bit of direction as to how the rest of the year is gonna go because -- -- we think that.
As soon as we get some kind of resolution of something concrete that we gonna start looking up and a lot of things but thing.
That lie at the end of that tunnel seems to be a long while why and -- not getting here they've been -- How bad news is -- -- interior and markets at this point.
Well I think -- interesting my about the -- separates these funny -- -- really.
-- -- and just see how the market reacts when we do get.
News out of the -- -- because.
You couldn't get disappointing news from the eurozone now and it doesn't even move the market because we expect to hate negative news we expect to hear.
The that the -- and isn't necessarily performing that well so whenever you hear negative news it does seem to be sorting fact today in.
So I think -- did you see know that when you get a more positive news you have to be really positive custody wants to gang changer for the Euro zone.
Otherwise we don't see the markets may not either because it of course the issue we've had -- -- Is we've seen all of these things before we've heard it all happen and nothing -- changed.
Groundhog Day when my favorite and then this person -- -- do you think you can.
Chief market analyst James is be well.
-- is a look at the Asian markets we go to Fox Business contributor -- sergeant -- on the from Singapore new.
Is working today even -- those markets are closed for a holiday K good that if -- from me.
In morning big and I didn't manage to -- get out.
-- it'd take a look.
Little bit of that advantage of the day off.
It was a definite quiet day for markets around Asia we don't have a lot of big economic data or other news providing -- interaction.
That there wasn't much movement in the major indexes here the market enclosed in Singapore as well as in Malaysia and Indonesia -- -- contributing to the quiet Lou.
-- in the region.
The biggest -- that we around here today with in Shanghai the composite index was down.
Point four per cent it was the property developers that where -- the big decliners there without some data over the weekend that showed that housing prices in seventy major Chinese -- were up in July.
On the road that they have been higher and that is raising concern that Beijing.
They take that view tighten up the property market that was weighing on the the equity market there today.
Elsewhere though there wasn't a whole lot of movement by the end of the day Japan executed by adding -- 110 of the -- that.
And investors there are taking their profit the Nikkei was up 3% last week it was higher the week before is that the profit profit.
Going on in Japan South Korea's kospi it was pretty much range bound all they've finishing the -- last.
And the -- bank was all of those lower today it was down 110 that it had been lower earlier in the day at the minister on my aptitude it -- the day down just a.
As -- point a quiet day here on Monday -- Thank you Katie Katie sergeant on the from Singapore.
And then we US markets a preview of today's trading we go to Fox Business has warned some -- -- -- -- news around the morning aren't.
Good morning bring the market's winning streak so weak number six the Dow and S&P 500 now higher for the past six weeks in a row the longest winning streak in nineteen months.
And less than half a percent away from their highest levels for the Dow NE SMP.
In four years in this week investors focused on minutes from the latest Federal Reserve meeting.
It's quantitative easing to three coming few earnings reports trickling this week but they do come from some notable companies like Best Buy and Hewlett-Packard.
Apple's new -- phonies just weeks away and -- the world waits.
Here's your latest rumors on what it will look like a four inch display a metal back cover with a metallic finish to make it more resistant when -- -- it.
Seven point six millimeters thick which is actually -- than most we're expecting.
And it runs obviously on forward sheet now pre orders are expected on the same day of the announcement that September 12.
And the -- is expected to launch on September 21.
In addition to the iPhone 5 is the iPad mania which is rumored to be closer to the -- -- and then the iPad.
And after 100 days of holding below 2011.
Price is gas prices are back up the national average this Monday morning three dollars 72 cents a gallon.
Up now for twenty days in a row and fourteen cents more than this time last year good news peak summer driving season is winding down.
And winter blends of gasoline is cheaper -- More business news for you this morning a major deal and health care.
Aetna buying Coventry Health Care for five point seven billion dollars in cash and stock.
Include the value of all the debt and as a deal worth seven point three billion bucks Coventry shares jumping in premarket trading.
This deal comes in at just over 42 dollars a share for Coventry is a 20% premium to stop closing price of the stock on Friday.
The move will help -- expanded government based health care plans like Medicare and Medicaid making -- one of the largest providers.
It's official Best -- which is the target of a takeover battle with founder Richard Schulze has chosen a new chief executive to run the company.
You -- -- -- the former CEO of hospitality and travel company Carlson.
Or place interim chief Mike Mike -- next month shows wants to team up with private equity firms to investors.
To buy Best Buy it -- roughly 2426.
Dollars a share.
Talks have broken down after Best -- said -- had rejected its offer to conduct due diligence.
-- which earns about 20% of Best Buy shares right now has said he plans to use about one billion dollars of as an equity to help.