Culled—Proshare

13/11/2018/By Proshare Research

Reference: Proshare MARKETS

Market sustained its adverse reaction to the news report about a possible acquisition of diamond Bank even after the well-publicised denial of such a move by parties purportedly in such talks.

By the end of trading today, ACCESS grew by +0.64% and DIAMONDBNK dipped by -9.84% while the share price of ACCESS grew by +1.95% and that of DIAMONDBNK dipped by -17.97% two days after the potential M&A news broke.

The performance recorded today followed the trend witnessed yesterday on the two stocks.

Recall that the share price of ACCESS grew by +1.30% while that of DIAMONDBNK dipped by -9.38% at the close of trading yesterday.

An impact assessment of the news on these stocks revealed that ACCESS recorded a N4.34bn gain in Market CAP while DIAMONDBNK lost N5.33bn in Market CAP in the two days of trading. See below:

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