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"The Financial Times reported 11 days ago that another company was in pole position"
Indeed, and they were wrong at the time and subsequently. AAF was streets ahead on mCap with no sign of deviating from gradual upward climb
@Blubay I only had a small holding in AAF since the start of January this year (under 2%) so having realised the possibility of going into the top 100 and a blue chip status decided to triple my original investment, I now have 5.87% in AAF
"I'm not sure it was luck. AAF was about £1bn ahead of nearest rival mCap in the 250, which is a country mile apart in relative terms. The rise wasn't out of trend for the SP and it only went up about 4% in that time (before being sold back on news and regained now)"
The Financial Times reported 11 days ago that another company was in pole position:
" BHP will drop out of the FTSE 100 after the stock market closes on January 28, to be replaced by the biggest company in the FTSE 250, currently cruise ship operator Carnival." - Financial Times, 20th January 2022
So AAF seem to have had luck in various ways: 1) the single spot becoming available in unusual circumstances outside normal reviews, at a time when AAF were near their all time high; 2) a stock market mini correction happening at precisely the right time, damaging others but leaving AAF relatively unaffected; 3) overtaking in the final few days just before the review
@Chamer - that makes no sense, this share has been rising steadily since last summer
Well I am certainly happy having trebled my holding during the dip late last week. When the day started it looked like my prediction was garbage just took a while to kick in
@Blubay, ye it's crazy. I remember first buying this stock when its total market cap was 'only' a billion....wish I'd filled my boots.
"It was lucky that AAF outperformed most of the market in the days just before BHP dropped out "
I'm not sure it was luck. AAF was about £1bn ahead of nearest rival mCap in the 250, which is a country mile apart in relative terms. The rise wasn't out of trend for the SP and it only went up about 4% in that time (before being sold back on news and regained now)
Is there an echo in here? Well done Chamer for spotting this 9 days ago. As we expected (and some contradicted: "already baked into the price"), the SP got a boost.
It was lucky that AAF outperformed most of the market in the days just before BHP dropped out (it was obviously not, as someone claimed, "falling like a stone"), because only one place was available, and some were predicting another stock would be the new entry.
Hopefully we'll see sustained improvement in subscriber and revenue numbers to consolidate the position as one of the leading stocks on the UK market. GLA
Although the next review of the FTSE100 wasn't due until March, a special one happened at close of business on Friday because BHP group dropped out following a change in corporate structure. It looks like AAF have sneaked in early?
Q3 Results on Friday the 4th possibly a shake for orders before this?
I should add a company must be rated 90th or above to move into the FTSE100, or 111th or lower to be dropped.
I believe the FTSE100 is reviewed every quarter, usually the Wednesday following the first Friday in March, June, September, and December. That would be when companies in the index are relegated and new companies move into the index.
I am however not certain this is correct and await correction by anyone with more information.
If I am correct, AAF will not become a member of the FTSE100 until March at the earliest.
Went mental after 5pm but they don't show which way?
Some massive volume, trades, at the end there
American investors seem to like this. Recovered 3% between 2.30 and 2.45pm and seems to be staying at 143 ish
We'll see what happens next week when we're in the 100 club.
Why is this dropping like a stone today any ideas? Strengthening US dollar?
This news coupled with results due on 4th February has me hoping for a double boost in the SP imho. Hold on tight
Hello FTSE 100 :) - https://www.londonstockexchange.com/news-article/market-news/bhp-group/15303691
(BHP unifying)
Good spot Chamer. A week ago they were unofficially ranked at 92:
http://www.stockchallenge.co.uk/ftse.php
FTSE100 constituency is revised quarterly - I think the next one is due early March - so if they are still around this level in six weeks time there should logically be some updraft from index trackers and the like
Looking at the top FTSE 250 companies, Airtel are comfortably ahead of EasyJet at the top with a market cap of 5.4bn. It looks like there are 10 or so stocks with a market cap less than Airtel at the foot of the ftse100 so there could be a further boost if and when Airtel joins.