Microsoft to buy 4% stake in London Stock Exchange
Microsoft is to take a 4% equity stake in London Stock Exchange Group (LON: LSEG) As part of a 10-year commercial deal to migrate the exchange operator’s data platform into the cloud, the British company said on Monday.
It is the latest sign of deepening ties between financial services providers and a handful of big global cloud companies such as Microsoft (NASDAQ: MSFT), Google, Amazon and IBM, which have prompted regulators to scrutinise the ties more closely.
Microsoft has longstanding links with LSEG, but the exchange group’s Chief Executive David Schwimmer said that about a year ago they began talks on closer ties.
“It’s a long-term partnership. In terms of the products, we will be building together, I would expect our customers to start to see the benefits of that 18 to 24 months out and we will continue building from there,” Schwimmer told Reuters.
Regulators have expressed concern about the over-reliance of financial firms on too few cloud providers, given the disruption this could cause across the sector if a provider went down.
Microsoft’s purchase is expected to complete in the first quarter of 2023.
MICROSOFT CORPORATION TECHNICAL ANALYSIS DAILY CHART:
In daily Microsoft Corp is currently is trading in up channel. Microsoft Corp is currently trading above 5 & 50 SMA.
RSI is in Buying zone which shows bullishness. And stochastic is suggesting no trend.
Microsoft Corp immediate support level is at 243.64 & resistance level is at 246.27
HOW TO TRADE IN THIS WEEK
Microsoft Corp is trading in up channel; it will continue to trade upside until any reversal to downside. So, remain bullish on it.TRADE SUGGESTION: BUY AT 248.45, TARGET AT 254.11, SL AT 244.72