Beware initial euphoria over headline-grabbing deals
OVER the course of what has been a largely unimpressive year for the local stock market, many second-line firms have at one time or the other been in the focus because they announced deals with large, headline-grabbing numbers.
These plays have injected much-needed interest into a largely lethargic market whilst benefiting the shareholders of the firms concerned. Furthermore, day and short-term traders would have welcomed these announcements as they produce tradeable volatility.
The problem, however, is that very few, if any, tend to have a lasting impact. So, it's worth noting that the window of opportunity is not big.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand
AstraZeneca leaps after smashing Q1 forecasts