I reckon were see another 800k-1.2 million buy today by the company. I wouldnt be surprised if sorrel sold his on the basis that there was to be a buyback. He sells - the price drops - and the company buys in earnest. He then buys back at a profit...and the company has done a 100 million buyback at a discount. So i would expect this to be trading down a bit...but if you look past few days - a lot of trading and the share drops a bit - and the company are buying a lot. So i would imagine the price manipulation is down to them - after all why buy at a high price if you can get it at a lowere one?
Id expect it to move a bit when they are nearly finished....either way a lot of corruption and feathering of nest going on here! IMHO
I see 2 things that will lead to lower prices. One is a stronger dollar that depresses performance in emerging markets and two, share buybacks are used as a tool to prop up a share price, when in fact a company should be using its cash to invest, make profits and then see the share price rise. #hold
sorry volcano thought you were talking to me. I agree with the other poster though. As I said i couldnt see the RNS re transactions. Looks like it was a helpful downgrade so they could buy back the shares at a cheaper price IMO. GLA though - im holding ;)
i have....my accout at HL did not show the buying by the company......now I see the big buys - its obvious they arebuying back at a very high rate ( who wouldnt at this price - they might not get the chance again!) - technically this should put the share price up 6-8% above where it is now. As I said i didnt believe exane could change their outlook in a week - unless they were incompetant! Anyway I'm a buyer... if it goes down I am still a holder of 20K. GLA.
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