ETFs Affected By Canada Decision on BHP Potash Bid: ADRA, VEU, MOO
By Market News Video Staff, Wednesday, November 3, 1:26 PM ET
Keep an eye on BHP Billiton (NYSE:BHP) shares today. The Canadian government will announce today whether it will allow BHP’s $130 per share hostile bid for Potash (NYSE:POT) to move forward. The announcement is expected after the closing bell today.
BHP shares are trading pretty flat ahead of the announcement, up 0.33%, while Potash shares trade down 0.6%.
BHP is the top stock in the BLDRS Asia 50 ADR Index Fund (NASDAQ:ADRA) with 11.97% of the portfolio in BHP stock. The fund is trading down 0.3% Wednesday.
Both companies are held in the Vanguard FTSE All-World ex-US ETF (AMEX:VEU), making up 1.35% of the total.
Potash is a top five holding in the Agribusiness ETF (AMEX:MOO), with 7.76% of the fund in Potash stock. That fund is trading down 0.8% Wednesday.
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