Bursa Alert
Global Market
NewsHot Stock CIMB top gainer after Edge FD reports bank merger off
Page 1 of 1
Hot Stock CIMB top gainer after Edge FD reports bank merger off
by Cals Wed 14 Jan 2015, 03:25
Hot Stock
CIMB top gainer after Edge FD reports bank merger off
KUALA LUMPUR (Jan 13): Top gainer CIMB Group Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 6% afterThe Edge Financial Daily (Edge FD) reported the planned merger of CIMB, RHB Capital Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Malaysia Building Society Bhd (MBSB) ([You must be registered and logged in to see this image.] Financial Dashboard) would be called off.
At about 10am, CIMB rose as much as 32 sen to RM5.50 before reducing gains at RM5.49. The stock saw some five million shares done.
RHB Capital climbed as much as 17 sen or 2% to RM7.90 before paring gains at RM7.87. The fourth-largest gainer saw about 1.4 million shares traded.
MBSB, however, fell as much as 15 sen or 7% to RM2.04 before reducing losses at RM2.09. The ninth most-active stock saw around 12 million units transacted.
Edge FD, quoting sources, reported today the CIMB-RHB Capital-MBSB merger is off and an announcement was expected before the end of the week.
Some fund managers said news that the deal is off would be positive for CIMB and RHB Capital. This is because their share prices have underperformed due to uncertainties and concerns arising from the protracted negotiations.
CIMB top gainer after Edge FD reports bank merger off
KUALA LUMPUR (Jan 13): Top gainer CIMB Group Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 6% afterThe Edge Financial Daily (Edge FD) reported the planned merger of CIMB, RHB Capital Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Malaysia Building Society Bhd (MBSB) ([You must be registered and logged in to see this image.] Financial Dashboard) would be called off.
At about 10am, CIMB rose as much as 32 sen to RM5.50 before reducing gains at RM5.49. The stock saw some five million shares done.
RHB Capital climbed as much as 17 sen or 2% to RM7.90 before paring gains at RM7.87. The fourth-largest gainer saw about 1.4 million shares traded.
MBSB, however, fell as much as 15 sen or 7% to RM2.04 before reducing losses at RM2.09. The ninth most-active stock saw around 12 million units transacted.
Edge FD, quoting sources, reported today the CIMB-RHB Capital-MBSB merger is off and an announcement was expected before the end of the week.
Some fund managers said news that the deal is off would be positive for CIMB and RHB Capital. This is because their share prices have underperformed due to uncertainties and concerns arising from the protracted negotiations.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Mega bank merger credit negative for CIMB Islamic Bank
» Hot Stock Tenaga at new record high after Edge FD reports stock still has legs
» Edge Weekly CIMB-RHB –MBSB merger to take centre stage in M’sia M&A landscape
» Hot Stock Comintel up 4% after Edge FD reports on turnaround
» Hot Stock Willowglen up 3% after Edge FD reports on potential acquisition
» Hot Stock Tenaga at new record high after Edge FD reports stock still has legs
» Edge Weekly CIMB-RHB –MBSB merger to take centre stage in M’sia M&A landscape
» Hot Stock Comintel up 4% after Edge FD reports on turnaround
» Hot Stock Willowglen up 3% after Edge FD reports on potential acquisition
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum